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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$260,975$260,975$315,000
Remaining term (yrs)29.429.430.0
Secondary amount$0$54,025$0
Funding fee$0$0$0
Note rate6.160%6.160%7.400%
Blended rate6.710%7.103%7.640%
1st payment$1,601.02$1,601.02$2,181.00
2nd payment$0.00$405.19$0.00
Taxes / mo$318.17$318.17$318.17
Insurance / mo$150.00$150.00$150.00
MI / mo$120.32$120.32$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,189.50$2,594.69$2,712.16
Cash to close$89,025$35,000$35,000