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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$73,101$73,101$157,500
Remaining term (yrs)24.024.030.0
Secondary amount$0$84,399$0
Funding fee$0$0$0
Note rate2.86%2.86%7.18%
Blended rate3.71%6.545%7.42%
1st payment$350.27$350.27$1,066.96
2nd payment$0.00$632.99$0.00
Taxes / mo$222.83$222.83$222.83
Insurance / mo$150.00$150.00$150.00
MI / mo$59.92$59.92$31.50
HOA / mo$0.00$0.00$0.00
Total monthly$783.02$1,416.01$1,471.29
Cash to close$101,899$17,500$17,500