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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$120,532$120,532$292,500
Remaining term (yrs)16.016.030.0
Secondary amount$0$171,968$0
Funding fee$0$0$0
Note rate3.75%3.75%7.18%
Blended rate4.6%6.599%7.42%
1st payment$832.61$832.61$1,981.50
2nd payment$0.00$1,146.45$0.00
Taxes / mo$332.67$332.67$332.67
Insurance / mo$150.00$150.00$150.00
MI / mo$127.35$127.35$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,442.63$2,589.08$2,522.66
Cash to close$204,468$32,500$32,500