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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$194,435$194,435$220,500
Remaining term (yrs)28.628.630.0
Secondary amount$0$26,065$0
Funding fee$0$0$0
Note rate6.640%6.640%7.400%
Blended rate7.190%7.404%7.640%
1st payment$1,264.26$1,264.26$1,526.70
2nd payment$0.00$195.48$0.00
Taxes / mo$49.92$49.92$49.92
Insurance / mo$150.00$150.00$150.00
MI / mo$90.36$90.36$44.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,554.54$1,750.02$1,770.71
Cash to close$50,565$24,500$24,500