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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$284,796$284,796$352,800
Remaining term (yrs)24.424.430.0
Secondary amount$0$68,004$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.689%7.42%
1st payment$1,341.19$1,341.19$2,389.99
2nd payment$0.00$510.03$0.00
Taxes / mo$97.67$97.67$97.67
Insurance / mo$150.00$150.00$150.00
MI / mo$230.91$230.91$70.56
HOA / mo$17.67$17.67$17.67
Total monthly$1,837.44$2,347.47$2,725.89
Cash to close$107,204$39,200$39,200