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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$262,926$262,926$283,499
Remaining term (yrs)28.028.030.0
Secondary amount$0$36,323$0
Funding fee$0$0$0
Note rate6.090%6.090%7.400%
Blended rate6.640%7.275%7.640%
1st payment$1,628.61$1,628.61$1,962.89
2nd payment$0.00$359.45$0.00
Taxes / mo$89.58$89.58$89.58
Insurance / mo$150.00$150.00$150.00
MI / mo$123.31$123.31$56.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,991.50$2,350.95$2,259.17
Cash to close$52,073$15,750$31,500