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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$295,221$295,221$369,000
Remaining term (yrs)27.127.130.0
Secondary amount$0$73,779$0
Funding fee$0$0$0
Note rate7.2%7.2%7.18%
Blended rate7.75%8%7.42%
1st payment$2,065.09$2,065.09$2,499.73
2nd payment$0.00$553.34$0.00
Taxes / mo$134.58$134.58$134.58
Insurance / mo$150.00$150.00$150.00
MI / mo$139.44$139.44$73.80
HOA / mo$121.00$121.00$121.00
Total monthly$2,610.11$3,163.45$2,979.12
Cash to close$114,779$41,000$41,000