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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$48,425$48,425$188,910
Remaining term (yrs)5.55.530.0
Secondary amount$0$140,485$0
Funding fee$0$0$0
Note rate6.99%6.99%7.11%
Blended rate7.84%7.959%7.35%
1st payment$864.50$864.50$1,270.81
2nd payment$0.00$936.57$0.00
Taxes / mo$273.83$273.83$273.83
Insurance / mo$150.00$150.00$150.00
MI / mo$92.13$92.13$37.78
HOA / mo$300.00$300.00$300.00
Total monthly$1,680.47$2,617.03$2,032.42
Cash to close$161,475$20,990$20,990