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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$89,898$89,898$251,910
Remaining term (yrs)24.224.230.0
Secondary amount$0$162,012$0
Funding fee$0$0$0
Note rate2.66%2.66%7.18%
Blended rate3.51%6.398%7.42%
1st payment$418.51$418.51$1,706.53
2nd payment$0.00$1,080.08$0.00
Taxes / mo$326.67$326.67$326.67
Insurance / mo$150.00$150.00$150.00
MI / mo$73.47$73.47$50.38
HOA / mo$0.00$0.00$0.00
Total monthly$968.65$2,048.73$2,233.57
Cash to close$190,002$27,990$27,990