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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$197,861$197,861$225,000
Remaining term (yrs)29.529.530.0
Secondary amount$0$27,139$0
Funding fee$0$0$0
Note rate6.37%6.37%7.18%
Blended rate6.92%7.171%7.42%
1st payment$1,238.37$1,238.37$1,524.23
2nd payment$0.00$203.55$0.00
Taxes / mo$274.50$274.50$274.50
Insurance / mo$150.00$150.00$150.00
MI / mo$91.03$91.03$45.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,753.90$1,957.45$1,993.73
Cash to close$52,139$25,000$25,000