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$8,593$8,593$283,500
Remaining term (yrs)23.223.230.0
Secondary amount$0$274,907$0
Funding fee$0$0$0
Note rate6.95%6.95%7.18%
Blended rate7.5%7.742%7.42%
1st payment$62.09$62.09$1,920.53
2nd payment$0.00$1,775.44$0.00
Taxes / mo$414.42$414.42$414.42
Insurance / mo$150.00$150.00$150.00
MI / mo$4.10$4.10$56.70
HOA / mo$315.00$315.00$315.00
Total monthly$945.61$2,721.05$2,856.64
Cash to close$306,407$31,500$31,500