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$251,748$251,748$436,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$184,752$0
Funding fee$0$0$0
Note rate6.880%6.880%7.400%
Blended rate7.430%7.671%7.640%
1st payment$1,762.30$1,762.30$3,022.24
2nd payment$0.00$1,231.68$0.00
Taxes / mo$134.17$134.17$134.17
Insurance / mo$166.67$166.67$166.67
MI / mo$118.78$118.78$87.30
HOA / mo$5.67$5.67$5.67
Total monthly$2,187.58$3,419.26$3,416.04
Cash to close$233,252$48,500$48,500