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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$88,942$88,942$225,000
Remaining term (yrs)16.216.230.0
Secondary amount$0$136,058$0
Funding fee$0$0$0
Note rate3.25%3.25%7.18%
Blended rate4.1%6.458%7.42%
1st payment$585.43$585.43$1,524.23
2nd payment$0.00$907.06$0.00
Taxes / mo$231.42$231.42$231.42
Insurance / mo$150.00$150.00$150.00
MI / mo$95.28$95.28$45.00
HOA / mo$345.00$345.00$345.00
Total monthly$1,407.13$2,314.19$2,295.65
Cash to close$161,058$25,000$25,000