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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$152,324$152,324$237,600
Remaining term (yrs)24.224.230.0
Secondary amount$0$85,276$0
Funding fee$0$0$0
Note rate2.77%2.77%7.18%
Blended rate3.62%5.551%7.42%
1st payment$719.38$719.38$1,609.59
2nd payment$0.00$639.57$0.00
Taxes / mo$31.83$31.83$31.83
Insurance / mo$150.00$150.00$150.00
MI / mo$124.50$124.50$47.52
HOA / mo$224.00$224.00$224.00
Total monthly$1,249.70$1,889.27$2,062.94
Cash to close$111,676$26,400$26,400