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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$252,403$252,403$296,910
Remaining term (yrs)28.428.430.0
Secondary amount$0$44,507$0
Funding fee$0$0$0
Note rate6.96%6.96%7.11%
Blended rate7.51%7.733%7.35%
1st payment$1,699.02$1,699.02$1,997.33
2nd payment$0.00$333.80$0.00
Taxes / mo$299.00$299.00$299.00
Insurance / mo$150.00$150.00$150.00
MI / mo$117.52$117.52$59.38
HOA / mo$0.00$0.00$0.00
Total monthly$2,265.54$2,599.34$2,505.71
Cash to close$77,497$32,990$32,990