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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$167,068$167,068$319,500
Remaining term (yrs)18.018.030.0
Secondary amount$0$152,432$0
Funding fee$0$0$0
Note rate4%4%7.18%
Blended rate4.85%6.353%7.42%
1st payment$1,082.85$1,082.85$2,164.40
2nd payment$0.00$1,016.21$0.00
Taxes / mo$400.67$400.67$400.67
Insurance / mo$150.00$150.00$150.00
MI / mo$160.66$160.66$63.90
HOA / mo$0.00$0.00$0.00
Total monthly$1,794.18$2,810.39$2,778.97
Cash to close$187,932$35,500$35,500