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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$261,391$261,391$324,000
Remaining term (yrs)27.027.030.0
Secondary amount$0$62,609$0
Funding fee$0$0$0
Note rate7.2%7.2%7.18%
Blended rate7.75%7.992%7.42%
1st payment$1,830.26$1,830.26$2,194.89
2nd payment$0.00$469.57$0.00
Taxes / mo$366.33$366.33$366.33
Insurance / mo$150.00$150.00$150.00
MI / mo$123.58$123.58$64.80
HOA / mo$390.00$390.00$390.00
Total monthly$2,860.18$3,329.75$3,166.02
Cash to close$98,609$36,000$36,000