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$57,911$57,911$202,500
Remaining term (yrs)16.016.030.0
Secondary amount$0$144,589$0
Funding fee$0$0$0
Note rate3.250%3.250%7.400%
Blended rate4.100%6.885%7.640%
1st payment$384.16$384.16$1,402.07
2nd payment$0.00$963.93$0.00
Taxes / mo$143.00$143.00$143.00
Insurance / mo$150.00$150.00$150.00
MI / mo$62.53$62.53$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$739.69$1,703.61$1,735.57
Cash to close$167,089$22,500$22,500