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$167,866$167,866$229,410
Remaining term (yrs)23.623.630.0
Secondary amount$0$61,544$0
Funding fee$0$0$0
Note rate3.500%3.500%7.400%
Blended rate4.350%5.597%7.640%
1st payment$868.15$868.15$1,588.39
2nd payment$0.00$461.58$0.00
Taxes / mo$90.08$90.08$90.08
Insurance / mo$150.00$150.00$150.00
MI / mo$136.94$136.94$45.88
HOA / mo$130.00$130.00$130.00
Total monthly$1,375.18$1,836.76$2,004.35
Cash to close$87,034$25,490$25,490