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$198,148$198,148$265,500
Remaining term (yrs)27.527.530.0
Secondary amount$0$67,352$0
Funding fee$0$0$0
Note rate6.900%6.900%7.400%
Blended rate7.450%7.843%7.640%
1st payment$1,340.25$1,340.25$1,838.27
2nd payment$0.00$505.14$0.00
Taxes / mo$566.53$566.53$566.53
Insurance / mo$150.00$150.00$150.00
MI / mo$93.27$93.27$53.10
HOA / mo$0.00$0.00$0.00
Total monthly$2,150.05$2,655.19$2,607.89
Cash to close$96,852$29,500$29,500