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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$163,140$163,140$216,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$52,860$0
Funding fee$0$0$0
Note rate2.99%2.99%7.18%
Blended rate3.84%5.103%7.42%
1st payment$778.04$778.04$1,463.26
2nd payment$0.00$396.45$0.00
Taxes / mo$81.33$81.33$81.33
Insurance / mo$150.00$150.00$150.00
MI / mo$130.88$130.88$43.20
HOA / mo$330.00$330.00$330.00
Total monthly$1,470.25$1,866.70$2,067.79
Cash to close$76,860$24,000$24,000