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$110,339$110,339$337,500
Remaining term (yrs)9.89.830.0
Secondary amount$0$227,161$0
Funding fee$0$0$0
Note rate6.820%6.820%7.400%
Blended rate7.670%7.724%7.640%
1st payment$1,278.37$1,278.37$2,336.78
2nd payment$0.00$1,467.08$0.00
Taxes / mo$383.17$383.17$383.17
Insurance / mo$150.00$150.00$150.00
MI / mo$138.62$138.62$67.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,950.16$3,417.24$2,937.45
Cash to close$264,661$37,500$37,500