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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$231,690$231,690$382,500
Remaining term (yrs)15.715.730.0
Secondary amount$0$150,810$0
Funding fee$0$0$0
Note rate4.65%4.65%7.18%
Blended rate5.5%6.486%7.42%
1st payment$1,725.17$1,725.17$2,591.19
2nd payment$0.00$1,005.40$0.00
Taxes / mo$76.83$76.83$76.83
Insurance / mo$150.00$150.00$150.00
MI / mo$190.71$190.71$76.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,142.71$3,148.11$2,894.52
Cash to close$193,310$42,500$42,500