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$302,533$302,533$337,500
Remaining term (yrs)29.829.830.0
Secondary amount$0$34,967$0
Funding fee$0$0$0
Note rate6.470%6.470%7.400%
Blended rate7.020%7.225%7.640%
1st payment$1,907.98$1,907.98$2,336.78
2nd payment$0.00$262.26$0.00
Taxes / mo$217.25$217.25$217.25
Insurance / mo$150.00$150.00$150.00
MI / mo$138.79$138.79$67.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,414.02$2,676.27$2,771.53
Cash to close$72,467$37,500$37,500