Drew Bell | Bell Properties - My Home Group

Drew Bell

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	$42,000	$42,000	$342,000
Remaining term (yrs)	6.7	6.7	30.0
Secondary amount	$0	$300,000	$0
Funding fee	$0	$0	$0
Note rate	5.500%	5.500%	7.400%
Blended rate	6.350%	7.578%	7.640%
1st payment	$615.62	$615.62	$2,367.94
2nd payment	$0.00	$1,937.50	$0.00
Taxes / mo	$118.83	$118.83	$118.83
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$76.80	$76.80	$68.40
HOA / mo	$0.00	$0.00	$0.00
Total monthly	$961.25	$2,898.75	$2,705.17
Cash to close	$338,000	$38,000	$38,000