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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$150,417$150,417$224,100
Remaining term (yrs)23.123.130.0
Secondary amount$0$73,683$0
Funding fee$0$0$0
Note rate3.75%3.75%7.18%
Blended rate4.6%6.047%7.42%
1st payment$810.50$810.50$1,518.13
2nd payment$0.00$552.62$0.00
Taxes / mo$355.83$355.83$355.83
Insurance / mo$150.00$150.00$150.00
MI / mo$123.97$123.97$44.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,440.30$1,992.92$2,068.78
Cash to close$98,583$24,900$24,900