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$10,499$10,499$197,100
Remaining term (yrs)2.22.230.0
Secondary amount$0$186,601$0
Funding fee$0$0$0
Note rate6.870%6.870%7.400%
Blended rate7.720%7.985%7.640%
1st payment$406.88$406.88$1,364.68
2nd payment$0.00$1,244.01$0.00
Taxes / mo$244.58$244.58$244.58
Insurance / mo$150.00$150.00$150.00
MI / mo$43.89$43.89$39.42
HOA / mo$0.00$0.00$0.00
Total monthly$845.36$2,089.36$1,798.68
Cash to close$208,501$21,900$21,900