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$66,397$66,397$202,500
Remaining term (yrs)13.113.130.0
Secondary amount$0$136,103$0
Funding fee$0$0$0
Note rate4.880%4.880%7.400%
Blended rate5.730%7.256%7.640%
1st payment$567.87$567.87$1,402.07
2nd payment$0.00$907.35$0.00
Taxes / mo$309.75$309.75$309.75
Insurance / mo$150.00$150.00$150.00
MI / mo$75.96$75.96$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,103.58$2,010.94$1,902.32
Cash to close$158,603$22,500$22,500