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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$262,415$262,415$328,500
Remaining term (yrs)29.229.230.0
Secondary amount$0$66,085$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.55%6.244%7.42%
1st payment$1,422.58$1,422.58$2,225.37
2nd payment$0.00$495.64$0.00
Taxes / mo$122.42$122.42$122.42
Insurance / mo$150.00$150.00$150.00
MI / mo$121.46$121.46$65.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,816.45$2,312.09$2,563.49
Cash to close$102,585$36,500$36,500