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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$200,678$200,678$225,000
Remaining term (yrs)27.027.030.0
Secondary amount$0$36,822$0
Funding fee$0$0$0
Note rate7.090%7.090%7.400%
Blended rate7.640%8.297%7.640%
1st payment$1,390.66$1,390.66$1,557.85
2nd payment$0.00$364.39$0.00
Taxes / mo$161.25$161.25$161.25
Insurance / mo$150.00$150.00$150.00
MI / mo$94.94$94.94$45.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,796.85$2,161.24$1,914.10
Cash to close$49,322$12,500$25,000