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$157,066$157,066$288,000
Remaining term (yrs)23.623.630.0
Secondary amount$0$130,934$0
Funding fee$0$0$0
Note rate3.310%3.310%7.400%
Blended rate4.160%5.906%7.640%
1st payment$796.54$796.54$1,994.05
2nd payment$0.00$872.90$0.00
Taxes / mo$58.08$58.08$58.08
Insurance / mo$150.00$150.00$150.00
MI / mo$128.67$128.67$57.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,133.29$2,006.19$2,259.74
Cash to close$162,934$32,000$32,000