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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$296,486$296,486$364,500
Remaining term (yrs)27.127.130.0
Secondary amount$0$68,014$0
Funding fee$0$0$0
Note rate7.19%7.19%7.18%
Blended rate7.74%7.975%7.42%
1st payment$2,069.94$2,069.94$2,469.25
2nd payment$0.00$510.11$0.00
Taxes / mo$61.67$61.67$61.67
Insurance / mo$150.00$150.00$150.00
MI / mo$139.91$139.91$72.90
HOA / mo$0.00$0.00$0.00
Total monthly$2,421.51$2,931.61$2,753.82
Cash to close$108,514$40,500$40,500