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$0$0$192,600
Remaining term (yrs)29.829.830.0
Secondary amount$0$192,600$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%8.000%7.640%
1st payment$0.00$0.00$1,333.52
2nd payment$0.00$1,284.00$0.00
Taxes / mo$129.58$129.58$129.58
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$38.52
HOA / mo$340.00$340.00$340.00
Total monthly$619.58$1,903.58$1,991.63
Cash to close$214,000$21,400$21,400