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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$271,197$271,197$455,310
Remaining term (yrs)23.623.630.0
Secondary amount$0$184,113$0
Funding fee$0$0$0
Note rate3.23%3.23%7.18%
Blended rate4.08%5.665%7.42%
1st payment$1,363.99$1,363.99$3,084.43
2nd payment$0.00$1,227.42$0.00
Taxes / mo$118.83$118.83$118.83
Insurance / mo$166.67$166.67$166.67
MI / mo$222.56$222.56$91.06
HOA / mo$0.00$0.00$0.00
Total monthly$1,872.05$3,099.47$3,460.99
Cash to close$234,703$50,590$50,590