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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$26,667$26,667$112,500
Remaining term (yrs)7.07.030.0
Secondary amount$0$85,833$0
Funding fee$0$0$0
Note rate5.720%5.720%7.400%
Blended rate6.570%8.424%7.640%
1st payment$378.70$378.70$778.93
2nd payment$0.00$643.75$0.00
Taxes / mo$78.25$78.25$78.25
Insurance / mo$150.00$150.00$150.00
MI / mo$46.12$46.12$22.50
HOA / mo$0.00$0.00$0.00
Total monthly$653.06$1,296.81$1,029.68
Cash to close$98,333$12,500$12,500