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Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$28,246$28,246$287,910
Remaining term (yrs)26.726.730.0
Secondary amount$0$259,664$0
Funding fee$0$0$0
Note rate6.95%6.95%7.11%
Blended rate7.5%7.725%7.35%
1st payment$193.77$193.77$1,936.79
2nd payment$0.00$1,677.00$0.00
Taxes / mo$240.17$240.17$240.17
Insurance / mo$150.00$150.00$150.00
MI / mo$13.28$13.28$57.58
HOA / mo$0.00$0.00$0.00
Total monthly$597.21$2,274.21$2,384.54
Cash to close$291,654$31,990$31,990