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$190,127$190,127$256,500
Remaining term (yrs)25.225.230.0
Secondary amount$0$66,373$0
Funding fee$0$0$0
Note rate3.090%3.090%7.400%
Blended rate3.940%5.249%7.640%
1st payment$902.59$902.59$1,775.95
2nd payment$0.00$497.79$0.00
Taxes / mo$43.08$43.08$43.08
Insurance / mo$150.00$150.00$150.00
MI / mo$149.91$149.91$51.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,245.58$1,743.38$2,020.34
Cash to close$94,873$28,500$28,500