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$236,250
Remaining term (yrs)29.729.730.0
Secondary amount$0$236,250$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%7.750%7.640%
1st payment$0.00$0.00$1,635.75
2nd payment$0.00$1,525.78$0.00
Taxes / mo$307.76$307.76$307.76
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$47.25
HOA / mo$0.00$0.00$0.00
Total monthly$457.76$1,983.54$2,140.76
Cash to close$262,500$26,250$26,250