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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$104,652$104,652$193,500
Remaining term (yrs)20.420.430.0
Secondary amount$0$88,848$0
Funding fee$0$0$0
Note rate3.18%3.18%7.18%
Blended rate4.03%6.312%7.42%
1st payment$579.58$579.58$1,310.84
2nd payment$0.00$666.36$0.00
Taxes / mo$162.33$162.33$162.33
Insurance / mo$150.00$150.00$150.00
MI / mo$87.08$87.08$38.70
HOA / mo$330.00$330.00$330.00
Total monthly$1,308.99$1,975.35$1,991.87
Cash to close$110,348$21,500$21,500