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$58,065$58,065$206,910
Remaining term (yrs)9.19.130.0
Secondary amount$0$148,845$0
Funding fee$0$0$0
Note rate6.030%6.030%7.400%
Blended rate6.880%7.686%7.640%
1st payment$683.76$683.76$1,432.60
2nd payment$0.00$992.30$0.00
Taxes / mo$63.33$63.33$63.33
Insurance / mo$150.00$150.00$150.00
MI / mo$80.52$80.52$41.38
HOA / mo$0.00$0.00$0.00
Total monthly$977.62$1,969.92$1,687.32
Cash to close$171,835$22,990$22,990