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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$192,728$192,728$301,500
Remaining term (yrs)29.329.330.0
Secondary amount$0$108,772$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.393%7.42%
1st payment$1,226.06$1,226.06$2,042.47
2nd payment$0.00$725.14$0.00
Taxes / mo$46.08$46.08$46.08
Insurance / mo$150.00$150.00$150.00
MI / mo$88.91$88.91$60.30
HOA / mo$70.00$70.00$70.00
Total monthly$1,581.05$2,306.19$2,368.85
Cash to close$142,272$33,500$33,500