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$37,517$37,517$270,000
Remaining term (yrs)6.76.730.0
Secondary amount$0$232,483$0
Funding fee$0$0$0
Note rate5.450%5.450%7.400%
Blended rate6.300%7.549%7.640%
1st payment$549.02$549.02$1,869.43
2nd payment$0.00$1,501.45$0.00
Taxes / mo$281.00$281.00$281.00
Insurance / mo$150.00$150.00$150.00
MI / mo$68.87$68.87$54.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,048.89$2,550.35$2,354.43
Cash to close$262,483$30,000$30,000