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$171,530$171,530$294,300
Remaining term (yrs)20.820.830.0
Secondary amount$0$122,770$0
Funding fee$0$0$0
Note rate3.910%3.910%7.400%
Blended rate4.760%6.112%7.640%
1st payment$1,001.56$1,001.56$2,037.67
2nd payment$0.00$818.47$0.00
Taxes / mo$375.17$375.17$375.17
Insurance / mo$150.00$150.00$150.00
MI / mo$150.23$150.23$58.86
HOA / mo$0.00$0.00$0.00
Total monthly$1,676.96$2,495.43$2,621.70
Cash to close$155,470$32,700$32,700