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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$248,664$248,664$445,500
Remaining term (yrs)27.827.830.0
Secondary amount$0$196,836$0
Funding fee$0$0$0
Note rate6.89%6.89%7.18%
Blended rate7.44%7.687%7.42%
1st payment$1,673.61$1,673.61$3,017.97
2nd payment$0.00$1,312.24$0.00
Taxes / mo$151.83$151.83$151.83
Insurance / mo$166.67$166.67$166.67
MI / mo$116.59$116.59$89.10
HOA / mo$0.00$0.00$0.00
Total monthly$2,108.70$3,420.94$3,425.57
Cash to close$246,336$49,500$49,500