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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$244,555$244,555$260,999
Remaining term (yrs)27.827.830.0
Secondary amount$0$30,944$0
Funding fee$0$0$0
Note rate6.470%6.470%7.320%
Blended rate7.020%7.565%7.560%
1st payment$1,577.58$1,577.58$1,792.88
2nd payment$0.00$306.22$0.00
Taxes / mo$7.00$7.00$7.00
Insurance / mo$150.00$150.00$150.00
MI / mo$114.75$114.75$52.20
HOA / mo$0.00$0.00$0.00
Total monthly$1,849.33$2,155.55$2,002.08
Cash to close$45,444$14,500$29,000