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$29,697$29,697$224,910
Remaining term (yrs)4.54.530.0
Secondary amount$0$195,213$0
Funding fee$0$0$0
Note rate4.120%4.120%7.400%
Blended rate4.970%7.600%7.640%
1st payment$583.81$583.81$1,557.23
2nd payment$0.00$1,301.42$0.00
Taxes / mo$265.42$265.42$265.42
Insurance / mo$150.00$150.00$150.00
MI / mo$55.45$55.45$44.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,054.68$2,356.11$2,017.63
Cash to close$220,203$24,990$24,990