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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$49,616$49,616$215,910
Remaining term (yrs)6.66.630.0
Secondary amount$0$166,294$0
Funding fee$0$0$0
Note rate5.75%5.75%7.18%
Blended rate6.6%7.678%7.42%
1st payment$740.54$740.54$1,462.65
2nd payment$0.00$1,108.63$0.00
Taxes / mo$243.08$243.08$243.08
Insurance / mo$150.00$150.00$150.00
MI / mo$89.89$89.89$43.18
HOA / mo$0.00$0.00$0.00
Total monthly$1,223.51$2,332.13$1,898.91
Cash to close$190,284$23,990$23,990