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$12,064$12,064$220,500
Remaining term (yrs)24.924.930.0
Secondary amount$0$208,436$0
Funding fee$0$0$0
Note rate6.790%6.790%7.400%
Blended rate7.340%7.728%7.640%
1st payment$83.66$83.66$1,526.70
2nd payment$0.00$1,346.15$0.00
Taxes / mo$410.42$410.42$410.42
Insurance / mo$150.00$150.00$150.00
MI / mo$5.76$5.76$44.10
HOA / mo$323.00$323.00$323.00
Total monthly$972.83$2,318.98$2,454.21
Cash to close$232,936$24,500$24,500