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$0$0$215,100
Remaining term (yrs)0.00.030.0
Secondary amount$0$215,100$0
Funding fee$0$0$0
Note rate6.310%6.310%7.400%
Blended rate7.160%7.750%7.640%
1st payment$363.93$363.93$1,489.31
2nd payment$0.00$1,389.19$0.00
Taxes / mo$218.25$218.25$218.25
Insurance / mo$150.00$150.00$150.00
MI / mo$38.20$38.20$43.02
HOA / mo$0.00$0.00$0.00
Total monthly$770.38$2,159.57$1,900.58
Cash to close$239,000$23,900$23,900