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$33,489$33,489$80,991
Remaining term (yrs)10.610.630.0
Secondary amount$0$47,502$0
Funding fee$0$0$0
Note rate6.160%6.160%7.400%
Blended rate7.010%8.177%7.640%
1st payment$355.62$355.62$560.77
2nd payment$0.00$356.26$0.00
Taxes / mo$101.58$101.58$101.58
Insurance / mo$150.00$150.00$150.00
MI / mo$41.30$41.30$16.20
HOA / mo$0.00$0.00$0.00
Total monthly$648.51$1,004.77$828.55
Cash to close$56,501$8,999$8,999