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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$104,290$104,290$157,500
Remaining term (yrs)20.920.930.0
Secondary amount$0$53,210$0
Funding fee$0$0$0
Note rate3.86%3.86%7.18%
Blended rate4.71%6.159%7.42%
1st payment$604.63$604.63$1,066.96
2nd payment$0.00$399.07$0.00
Taxes / mo$310.17$310.17$310.17
Insurance / mo$150.00$150.00$150.00
MI / mo$91.24$91.24$31.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,156.04$1,555.11$1,558.63
Cash to close$70,710$17,500$17,500