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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$108,116$108,116$179,910
Remaining term (yrs)28.328.330.0
Secondary amount$0$71,794$0
Funding fee$0$0$0
Note rate6.500%6.500%7.320%
Blended rate7.050%7.828%7.560%
1st payment$695.22$695.22$1,235.86
2nd payment$0.00$538.45$0.00
Taxes / mo$125.58$125.58$125.58
Insurance / mo$150.00$150.00$150.00
MI / mo$50.41$50.41$35.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,021.21$1,559.67$1,547.42
Cash to close$91,784$19,990$19,990