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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$49,998$49,998$222,300
Remaining term (yrs)8.38.330.0
Secondary amount$0$172,302$0
Funding fee$0$0$0
Note rate5.250%5.250%7.320%
Blended rate6.100%7.573%7.560%
1st payment$608.71$608.71$1,527.05
2nd payment$0.00$1,148.68$0.00
Taxes / mo$29.50$29.50$29.50
Insurance / mo$150.00$150.00$150.00
MI / mo$78.08$78.08$44.46
HOA / mo$0.00$0.00$0.00
Total monthly$866.29$2,014.97$1,751.01
Cash to close$197,002$24,700$24,700