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$10,608$10,608$279,000
Remaining term (yrs)1.51.530.0
Secondary amount$0$268,392$0
Funding fee$0$0$0
Note rate7.040%7.040%7.400%
Blended rate7.890%7.755%7.640%
1st payment$591.66$591.66$1,931.74
2nd payment$0.00$1,733.36$0.00
Taxes / mo$75.50$75.50$75.50
Insurance / mo$150.00$150.00$150.00
MI / mo$62.74$62.74$55.80
HOA / mo$220.00$220.00$220.00
Total monthly$1,099.90$2,833.26$2,433.04
Cash to close$299,392$31,000$31,000