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$157,529$157,529$458,685
Remaining term (yrs)11.611.630.0
Secondary amount$0$301,156$0
Funding fee$0$0$0
Note rate5.880%5.880%7.400%
Blended rate6.730%7.400%7.640%
1st payment$1,549.90$1,549.90$3,175.84
2nd payment$0.00$1,944.96$0.00
Taxes / mo$267.62$267.62$267.62
Insurance / mo$166.67$166.67$166.67
MI / mo$185.49$185.49$91.74
HOA / mo$73.33$73.33$73.33
Total monthly$2,243.00$4,187.97$3,775.20
Cash to close$352,121$50,965$50,965