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$229,108$229,108$246,555
Remaining term (yrs)27.627.630.0
Secondary amount$0$31,144$0
Funding fee$0$0$0
Note rate7.090%7.090%7.400%
Blended rate7.640%8.147%7.640%
1st payment$1,575.15$1,575.15$1,707.10
2nd payment$0.00$308.20$0.00
Taxes / mo$407.67$407.67$407.67
Insurance / mo$150.00$150.00$150.00
MI / mo$107.53$107.53$49.31
HOA / mo$0.00$0.00$0.00
Total monthly$2,240.35$2,548.55$2,314.07
Cash to close$44,842$13,698$27,395