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$101,582$101,582$220,500
Remaining term (yrs)28.828.830.0
Secondary amount$0$118,918$0
Funding fee$0$0$0
Note rate6.770%6.770%7.400%
Blended rate7.320%7.687%7.640%
1st payment$667.91$667.91$1,526.70
2nd payment$0.00$792.79$0.00
Taxes / mo$97.75$97.75$97.75
Insurance / mo$150.00$150.00$150.00
MI / mo$47.10$47.10$44.10
HOA / mo$160.00$160.00$160.00
Total monthly$1,122.76$1,915.55$1,978.55
Cash to close$143,418$24,500$24,500