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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$165,468$165,468$459,900
Remaining term (yrs)13.813.830.0
Secondary amount$0$294,432$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%7.066%7.42%
1st payment$1,377.19$1,377.19$3,115.52
2nd payment$0.00$1,901.54$0.00
Taxes / mo$832.58$832.58$832.58
Insurance / mo$166.67$166.67$166.67
MI / mo$181.72$181.72$91.98
HOA / mo$0.00$0.00$0.00
Total monthly$2,558.16$4,459.70$4,206.75
Cash to close$345,532$51,100$51,100