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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$153,155$153,155$287,910
Remaining term (yrs)12.512.530.0
Secondary amount$0$134,755$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%6.856%7.42%
1st payment$1,368.63$1,368.63$1,950.40
2nd payment$0.00$898.37$0.00
Taxes / mo$402.58$402.58$402.58
Insurance / mo$150.00$150.00$150.00
MI / mo$180.59$180.59$57.58
HOA / mo$0.00$0.00$0.00
Total monthly$2,101.80$3,000.17$2,560.57
Cash to close$166,745$31,990$31,990