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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$150,056$150,056$265,500
Remaining term (yrs)20.120.130.0
Secondary amount$0$115,444$0
Funding fee$0$0$0
Note rate2.84%2.84%7.11%
Blended rate3.69%5.564%7.35%
1st payment$812.72$812.72$1,786.04
2nd payment$0.00$769.62$0.00
Taxes / mo$232.67$232.67$232.67
Insurance / mo$150.00$150.00$150.00
MI / mo$126.90$126.90$53.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,322.29$2,091.91$2,221.80
Cash to close$144,944$29,500$29,500