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$8,929$8,929$157,500
Remaining term (yrs)25.525.530.0
Secondary amount$0$148,571$0
Funding fee$0$0$0
Note rate6.660%6.660%7.400%
Blended rate7.210%7.955%7.640%
1st payment$60.64$60.64$1,090.50
2nd payment$0.00$990.48$0.00
Taxes / mo$358.75$358.75$358.75
Insurance / mo$150.00$150.00$150.00
MI / mo$4.23$4.23$31.50
HOA / mo$0.00$0.00$0.00
Total monthly$573.62$1,564.10$1,630.75
Cash to close$166,071$17,500$17,500