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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$84,494$84,494$202,500
Remaining term (yrs)13.113.130.0
Secondary amount$0$118,006$0
Funding fee$0$0$0
Note rate4.750%4.750%7.400%
Blended rate5.600%6.999%7.640%
1st payment$717.08$717.08$1,402.07
2nd payment$0.00$786.71$0.00
Taxes / mo$212.25$212.25$212.25
Insurance / mo$150.00$150.00$150.00
MI / mo$97.37$97.37$40.50
HOA / mo$309.00$309.00$309.00
Total monthly$1,485.70$2,272.41$2,113.82
Cash to close$140,506$22,500$22,500