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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$73,364$73,364$220,500
Remaining term (yrs)14.414.430.0
Secondary amount$0$147,136$0
Funding fee$0$0$0
Note rate4.75%4.75%7.18%
Blended rate5.6%7.201%7.42%
1st payment$584.17$584.17$1,493.74
2nd payment$0.00$980.91$0.00
Taxes / mo$309.83$309.83$309.83
Insurance / mo$150.00$150.00$150.00
MI / mo$79.32$79.32$44.10
HOA / mo$295.00$295.00$295.00
Total monthly$1,418.33$2,399.23$2,292.68
Cash to close$171,636$24,500$24,500