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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$101,176$101,176$342,000
Remaining term (yrs)13.113.130.0
Secondary amount$0$240,824$0
Funding fee$0$0$0
Note rate5.03%5.03%7.18%
Blended rate5.88%7.197%7.42%
1st payment$876.93$876.93$2,316.83
2nd payment$0.00$1,555.32$0.00
Taxes / mo$339.58$339.58$339.58
Insurance / mo$150.00$150.00$150.00
MI / mo$115.32$115.32$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,481.83$3,037.15$2,874.81
Cash to close$278,824$38,000$38,000