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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$246,361$246,361$283,500
Remaining term (yrs)25.125.130.0
Secondary amount$0$37,139$0
Funding fee$0$0$0
Note rate3.07%3.07%7.18%
Blended rate3.92%4.585%7.42%
1st payment$1,169.51$1,169.51$1,920.53
2nd payment$0.00$278.54$0.00
Taxes / mo$116.42$116.42$116.42
Insurance / mo$150.00$150.00$150.00
MI / mo$194.74$194.74$56.70
HOA / mo$270.00$270.00$270.00
Total monthly$1,900.67$2,179.21$2,513.64
Cash to close$68,639$31,500$31,500