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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$131,002$131,002$233,910
Remaining term (yrs)29.129.130.0
Secondary amount$0$102,908$0
Funding fee$0$0$0
Note rate6.3%6.3%7.18%
Blended rate6.85%7.356%7.42%
1st payment$818.75$818.75$1,584.59
2nd payment$0.00$686.05$0.00
Taxes / mo$244.50$244.50$244.50
Insurance / mo$150.00$150.00$150.00
MI / mo$60.63$60.63$46.78
HOA / mo$263.00$263.00$263.00
Total monthly$1,536.87$2,222.92$2,288.87
Cash to close$128,898$25,990$25,990