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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$92,876$92,876$180,000
Remaining term (yrs)11.511.530.0
Secondary amount$0$87,124$0
Funding fee$0$0$0
Note rate6.38%6.38%7.18%
Blended rate7.23%8.087%7.42%
1st payment$946.90$946.90$1,219.38
2nd payment$0.00$653.43$0.00
Taxes / mo$60.25$60.25$60.25
Insurance / mo$150.00$150.00$150.00
MI / mo$107.45$107.45$36.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,264.60$1,918.03$1,465.63
Cash to close$107,124$20,000$20,000