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$3,366$3,366$124,650
Remaining term (yrs)26.826.830.0
Secondary amount$0$121,284$0
Funding fee$0$0$0
Note rate6.860%6.860%7.400%
Blended rate7.410%7.984%7.640%
1st payment$22.87$22.87$863.05
2nd payment$0.00$808.56$0.00
Taxes / mo$59.67$59.67$59.67
Insurance / mo$150.00$150.00$150.00
MI / mo$1.58$1.58$24.93
HOA / mo$0.00$0.00$0.00
Total monthly$234.12$1,042.68$1,097.65
Cash to close$135,134$13,850$13,850