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$184,774$184,774$269,100
Remaining term (yrs)26.926.930.0
Secondary amount$0$84,326$0
Funding fee$0$0$0
Note rate6.780%6.780%7.400%
Blended rate7.330%7.853%7.640%
1st payment$1,244.52$1,244.52$1,863.19
2nd payment$0.00$632.45$0.00
Taxes / mo$51.89$51.89$51.89
Insurance / mo$150.00$150.00$150.00
MI / mo$87.67$87.67$53.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,534.09$2,166.54$2,118.91
Cash to close$114,226$29,900$29,900