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$74,986$74,986$257,400
Remaining term (yrs)11.511.530.0
Secondary amount$0$182,414$0
Funding fee$0$0$0
Note rate6.000%6.000%7.400%
Blended rate6.850%7.665%7.640%
1st payment$746.06$746.06$1,782.19
2nd payment$0.00$1,216.09$0.00
Taxes / mo$177.67$177.67$177.67
Insurance / mo$150.00$150.00$150.00
MI / mo$88.14$88.14$51.48
HOA / mo$330.00$330.00$330.00
Total monthly$1,491.87$2,707.96$2,491.33
Cash to close$211,014$28,600$28,600