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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$248,767$248,767$337,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$88,733$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%5.064%7.42%
1st payment$1,171.52$1,171.52$2,286.34
2nd payment$0.00$665.49$0.00
Taxes / mo$83.58$83.58$83.58
Insurance / mo$150.00$150.00$150.00
MI / mo$201.70$201.70$67.50
HOA / mo$41.67$41.67$41.67
Total monthly$1,648.47$2,313.97$2,629.10
Cash to close$126,233$37,500$37,500