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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$203,374$203,374$301,500
Remaining term (yrs)23.523.530.0
Secondary amount$0$98,126$0
Funding fee$0$0$0
Note rate3.45%3.45%7.18%
Blended rate4.3%5.83%7.42%
1st payment$1,051.18$1,051.18$2,042.47
2nd payment$0.00$735.94$0.00
Taxes / mo$198.50$198.50$198.50
Insurance / mo$150.00$150.00$150.00
MI / mo$166.85$166.85$60.30
HOA / mo$75.00$75.00$75.00
Total monthly$1,641.53$2,377.47$2,526.27
Cash to close$131,626$33,500$33,500