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$19,298$19,298$224,996
Remaining term (yrs)24.624.630.0
Secondary amount$0$205,698$0
Funding fee$0$0$0
Note rate7.100%7.100%7.400%
Blended rate7.650%7.741%7.640%
1st payment$138.13$138.13$1,557.82
2nd payment$0.00$1,328.46$0.00
Taxes / mo$503.08$503.08$503.08
Insurance / mo$150.00$150.00$150.00
MI / mo$9.12$9.12$45.00
HOA / mo$0.00$0.00$0.00
Total monthly$800.33$2,128.80$2,255.91
Cash to close$230,697$25,000$25,000