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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$296,343$296,343$315,000
Remaining term (yrs)27.327.330.0
Secondary amount$0$36,157$0
Funding fee$0$0$0
Note rate6.66%6.66%7.11%
Blended rate7.21%7.717%7.35%
1st payment$1,962.37$1,962.37$2,119.03
2nd payment$0.00$357.81$0.00
Taxes / mo$312.33$312.33$312.33
Insurance / mo$150.00$150.00$150.00
MI / mo$139.96$139.96$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,564.66$2,922.47$2,644.36
Cash to close$53,657$17,500$35,000