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$0$0$99,000
Remaining term (yrs)0.00.030.0
Secondary amount$0$99,000$0
Funding fee$0$0$0
Note rate8.610%8.610%7.400%
Blended rate9.460%9.000%7.640%
1st payment$260.59$260.59$685.46
2nd payment$0.00$742.50$0.00
Taxes / mo$30.67$30.67$30.67
Insurance / mo$150.00$150.00$150.00
MI / mo$23.76$23.76$19.80
HOA / mo$270.00$270.00$270.00
Total monthly$735.02$1,477.52$1,155.92
Cash to close$110,000$11,000$11,000