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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$243,069$243,069$329,400
Remaining term (yrs)24.224.230.0
Secondary amount$0$86,331$0
Funding fee$0$0$0
Note rate2.68%2.68%7.18%
Blended rate3.53%4.964%7.42%
1st payment$1,134.05$1,134.05$2,231.47
2nd payment$0.00$647.48$0.00
Taxes / mo$162.75$162.75$162.75
Insurance / mo$150.00$150.00$150.00
MI / mo$198.57$198.57$65.88
HOA / mo$30.67$30.67$30.67
Total monthly$1,676.04$2,323.52$2,640.77
Cash to close$122,931$36,600$36,600