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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$224,836$224,836$238,410
Remaining term (yrs)25.525.530.0
Secondary amount$0$26,819$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%6.492%7.42%
1st payment$1,297.26$1,297.26$1,615.07
2nd payment$0.00$265.40$0.00
Taxes / mo$224.17$224.17$224.17
Insurance / mo$150.00$150.00$150.00
MI / mo$171.17$171.17$47.68
HOA / mo$300.00$300.00$300.00
Total monthly$2,142.60$2,408.00$2,336.92
Cash to close$40,064$13,245$26,490