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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$174,308$174,308$219,600
Remaining term (yrs)24.724.730.0
Secondary amount$0$45,292$0
Funding fee$0$0$0
Note rate3.040%3.040%7.400%
Blended rate3.890%4.944%7.640%
1st payment$833.94$833.94$1,520.47
2nd payment$0.00$339.69$0.00
Taxes / mo$55.42$55.42$55.42
Insurance / mo$150.00$150.00$150.00
MI / mo$139.40$139.40$43.92
HOA / mo$0.00$0.00$0.00
Total monthly$1,178.76$1,518.45$1,769.80
Cash to close$69,692$24,400$24,400