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$198,690$198,690$314,010
Remaining term (yrs)27.627.630.0
Secondary amount$0$115,320$0
Funding fee$0$0$0
Note rate7.170%7.170%7.400%
Blended rate7.720%7.823%7.640%
1st payment$1,376.51$1,376.51$2,174.14
2nd payment$0.00$768.80$0.00
Taxes / mo$276.50$276.50$276.50
Insurance / mo$150.00$150.00$150.00
MI / mo$93.22$93.22$62.80
HOA / mo$0.00$0.00$0.00
Total monthly$1,896.24$2,665.04$2,663.44
Cash to close$150,210$34,890$34,890