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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$180,092$180,092$216,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$35,908$0
Funding fee$0$0$0
Note rate2.91%2.91%7.18%
Blended rate3.76%4.631%7.42%
1st payment$867.54$867.54$1,463.26
2nd payment$0.00$269.31$0.00
Taxes / mo$338.00$338.00$338.00
Insurance / mo$150.00$150.00$150.00
MI / mo$147.45$147.45$43.20
HOA / mo$0.00$0.00$0.00
Total monthly$1,502.99$1,772.30$1,994.46
Cash to close$59,908$24,000$24,000