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$213,398$213,398$242,100
Remaining term (yrs)28.928.930.0
Secondary amount$0$28,702$0
Funding fee$0$0$0
Note rate6.720%6.720%7.400%
Blended rate7.270%7.475%7.640%
1st payment$1,394.79$1,394.79$1,676.25
2nd payment$0.00$215.27$0.00
Taxes / mo$355.00$355.00$355.00
Insurance / mo$150.00$150.00$150.00
MI / mo$98.87$98.87$48.42
HOA / mo$0.00$0.00$0.00
Total monthly$1,998.66$2,213.93$2,229.67
Cash to close$55,602$26,900$26,900