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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$187,134$187,134$296,910
Remaining term (yrs)24.924.930.0
Secondary amount$0$109,776$0
Funding fee$0$0$0
Note rate2.84%2.84%7.18%
Blended rate3.69%5.284%7.42%
1st payment$871.91$871.91$2,011.37
2nd payment$0.00$731.84$0.00
Taxes / mo$72.42$72.42$72.42
Insurance / mo$150.00$150.00$150.00
MI / mo$149.53$149.53$59.38
HOA / mo$250.00$250.00$250.00
Total monthly$1,493.86$2,225.71$2,543.17
Cash to close$142,766$32,990$32,990