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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$79,421$79,421$202,500
Remaining term (yrs)18.518.530.0
Secondary amount$0$123,079$0
Funding fee$0$0$0
Note rate3.770%3.770%7.400%
Blended rate4.620%6.674%7.640%
1st payment$494.36$494.36$1,402.07
2nd payment$0.00$820.53$0.00
Taxes / mo$51.08$51.08$51.08
Insurance / mo$150.00$150.00$150.00
MI / mo$75.43$75.43$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$770.87$1,591.40$1,643.65
Cash to close$145,579$22,500$22,500