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$11,810$11,810$269,910
Remaining term (yrs)2.62.630.0
Secondary amount$0$258,100$0
Funding fee$0$0$0
Note rate6.870%6.870%7.400%
Blended rate7.720%7.749%7.640%
1st payment$393.75$393.75$1,868.80
2nd payment$0.00$1,666.90$0.00
Taxes / mo$107.67$107.67$107.67
Insurance / mo$150.00$150.00$150.00
MI / mo$42.48$42.48$53.98
HOA / mo$0.00$0.00$0.00
Total monthly$693.90$2,360.80$2,180.45
Cash to close$288,090$29,990$29,990