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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$57,209$57,209$283,500
Remaining term (yrs)27.127.130.0
Secondary amount$0$226,291$0
Funding fee$0$0$0
Note rate7.790%7.790%7.320%
Blended rate8.340%7.869%7.560%
1st payment$422.27$422.27$1,947.45
2nd payment$0.00$1,461.47$0.00
Taxes / mo$149.33$149.33$149.33
Insurance / mo$150.00$150.00$150.00
MI / mo$26.91$26.91$56.70
HOA / mo$123.33$123.33$123.33
Total monthly$871.85$2,333.31$2,426.81
Cash to close$257,791$31,500$31,500