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$36,561$36,561$216,000
Remaining term (yrs)6.76.730.0
Secondary amount$0$179,439$0
Funding fee$0$0$0
Note rate5.810%5.810%7.400%
Blended rate6.660%7.773%7.640%
1st payment$541.28$541.28$1,495.54
2nd payment$0.00$1,196.26$0.00
Taxes / mo$75.83$75.83$75.83
Insurance / mo$150.00$150.00$150.00
MI / mo$65.27$65.27$43.20
HOA / mo$292.00$292.00$292.00
Total monthly$1,124.39$2,320.65$2,056.57
Cash to close$203,439$24,000$24,000