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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$119,785$119,785$315,000
Remaining term (yrs)16.816.830.0
Secondary amount$0$195,215$0
Funding fee$0$0$0
Note rate4.25%4.25%7.18%
Blended rate5.1%6.897%7.42%
1st payment$828.39$828.39$2,133.92
2nd payment$0.00$1,301.44$0.00
Taxes / mo$314.08$314.08$314.08
Insurance / mo$150.00$150.00$150.00
MI / mo$119.28$119.28$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,411.75$2,713.19$2,661.00
Cash to close$230,215$35,000$35,000