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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$166,675$166,675$405,000
Remaining term (yrs)14.514.530.0
Secondary amount$0$238,325$0
Funding fee$0$0$0
Note rate4.75%4.75%7.18%
Blended rate5.6%6.865%7.42%
1st payment$1,321.90$1,321.90$2,743.61
2nd payment$0.00$1,539.18$0.00
Taxes / mo$759.92$759.92$759.92
Insurance / mo$150.00$150.00$150.00
MI / mo$179.50$179.50$81.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,411.32$3,950.50$3,734.53
Cash to close$283,325$45,000$45,000