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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$249,460$249,460$296,910
Remaining term (yrs)27.127.130.0
Secondary amount$0$47,450$0
Funding fee$0$0$0
Note rate7.5%7.5%7.11%
Blended rate8.05%8.202%7.35%
1st payment$1,792.86$1,792.86$1,997.33
2nd payment$0.00$355.88$0.00
Taxes / mo$298.67$298.67$298.67
Insurance / mo$150.00$150.00$150.00
MI / mo$117.52$117.52$59.38
HOA / mo$0.00$0.00$0.00
Total monthly$2,359.04$2,714.92$2,505.38
Cash to close$80,440$32,990$32,990