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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$223,986$223,986$485,100
Remaining term (yrs)23.723.730.0
Secondary amount$0$261,114$0
Funding fee$0$0$0
Note rate2.6%2.6%7.18%
Blended rate3.45%5.765%7.42%
1st payment$1,051.54$1,051.54$3,286.24
2nd payment$0.00$1,686.36$0.00
Taxes / mo$202.58$202.58$202.58
Insurance / mo$166.67$166.67$166.67
MI / mo$186.05$186.05$97.02
HOA / mo$50.00$50.00$50.00
Total monthly$1,656.85$3,343.21$3,802.51
Cash to close$315,014$53,900$53,900