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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$223,787$223,787$616,410
Remaining term (yrs)20.520.530.0
Secondary amount$0$392,623$0
Funding fee$0$0$0
Note rate4.2%4.2%7.18%
Blended rate5.05%6.77%7.42%
1st payment$1,354.87$1,354.87$4,175.78
2nd payment$0.00$2,535.69$0.00
Taxes / mo$218.67$218.67$218.67
Insurance / mo$166.67$166.67$166.67
MI / mo$196.25$196.25$123.28
HOA / mo$0.00$0.00$0.00
Total monthly$1,936.46$4,472.15$4,684.39
Cash to close$461,113$68,490$68,490