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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$70,835$70,835$289,800
Remaining term (yrs)28.928.930.0
Secondary amount$0$218,965$0
Funding fee$0$0$0
Note rate6.74%6.74%7.18%
Blended rate7.29%7.638%7.42%
1st payment$463.92$463.92$1,963.21
2nd payment$0.00$1,414.15$0.00
Taxes / mo$84.17$84.17$84.17
Insurance / mo$150.00$150.00$150.00
MI / mo$32.82$32.82$57.96
HOA / mo$97.67$97.67$97.67
Total monthly$828.57$2,242.72$2,353.00
Cash to close$251,165$32,200$32,200