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$213,350$213,350$355,050
Remaining term (yrs)21.021.030.0
Secondary amount$0$141,700$0
Funding fee$0$0$0
Note rate4.200%4.200%7.400%
Blended rate5.050%6.227%7.640%
1st payment$1,272.42$1,272.42$2,458.29
2nd payment$0.00$944.66$0.00
Taxes / mo$678.17$678.17$678.17
Insurance / mo$150.00$150.00$150.00
MI / mo$184.31$184.31$71.01
HOA / mo$0.00$0.00$0.00
Total monthly$2,284.90$3,229.56$3,357.47
Cash to close$181,150$39,450$39,450