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$92,414$92,414$204,300
Remaining term (yrs)16.116.130.0
Secondary amount$0$111,886$0
Funding fee$0$0$0
Note rate3.380%3.380%7.400%
Blended rate4.230%6.295%7.640%
1st payment$616.57$616.57$1,414.53
2nd payment$0.00$745.91$0.00
Taxes / mo$277.50$277.50$277.50
Insurance / mo$150.00$150.00$150.00
MI / mo$98.73$98.73$40.86
HOA / mo$0.00$0.00$0.00
Total monthly$1,142.80$1,888.71$1,882.89
Cash to close$134,586$22,700$22,700