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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$262,195$262,195$292,500
Remaining term (yrs)29.029.030.0
Secondary amount$0$30,305$0
Funding fee$0$0$0
Note rate6.3%6.3%7.18%
Blended rate6.85%7.073%7.42%
1st payment$1,640.32$1,640.32$1,981.50
2nd payment$0.00$227.29$0.00
Taxes / mo$44.58$44.58$44.58
Insurance / mo$150.00$150.00$150.00
MI / mo$121.46$121.46$58.50
HOA / mo$110.00$110.00$110.00
Total monthly$2,066.37$2,293.66$2,344.58
Cash to close$62,805$32,500$32,500