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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$162,292$162,292$202,500
Remaining term (yrs)24.324.330.0
Secondary amount$0$40,208$0
Funding fee$0$0$0
Note rate2.72%2.72%7.18%
Blended rate3.57%4.648%7.42%
1st payment$758.65$758.65$1,371.81
2nd payment$0.00$301.56$0.00
Taxes / mo$294.25$294.25$294.25
Insurance / mo$150.00$150.00$150.00
MI / mo$132.15$132.15$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,335.04$1,636.60$1,856.56
Cash to close$62,708$22,500$22,500