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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$178,304$178,304$233,999
Remaining term (yrs)25.225.230.0
Secondary amount$0$55,695$0
Funding fee$0$0$0
Note rate3.11%3.11%7.11%
Blended rate3.96%5.16%7.35%
1st payment$848.33$848.33$1,574.13
2nd payment$0.00$417.71$0.00
Taxes / mo$254.83$254.83$254.83
Insurance / mo$150.00$150.00$150.00
MI / mo$140.54$140.54$46.80
HOA / mo$0.00$0.00$0.00
Total monthly$1,393.70$1,811.42$2,025.76
Cash to close$81,695$26,000$26,000