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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$189,115$189,115$215,999
Remaining term (yrs)25.625.630.0
Secondary amount$0$26,884$0
Funding fee$0$0$0
Note rate5.3%5.3%7.18%
Blended rate6.15%6.505%7.42%
1st payment$1,122.98$1,122.98$1,463.25
2nd payment$0.00$201.63$0.00
Taxes / mo$69.33$69.33$69.33
Insurance / mo$150.00$150.00$150.00
MI / mo$143.24$143.24$43.20
HOA / mo$0.00$0.00$0.00
Total monthly$1,485.56$1,687.19$1,725.79
Cash to close$50,884$24,000$24,000