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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$227,901$227,901$481,500
Remaining term (yrs)20.220.230.0
Secondary amount$0$253,599$0
Funding fee$0$0$0
Note rate4.2%4.2%7.18%
Blended rate5.05%6.472%7.42%
1st payment$1,390.47$1,390.47$3,261.85
2nd payment$0.00$1,637.83$0.00
Taxes / mo$311.25$311.25$311.25
Insurance / mo$166.67$166.67$166.67
MI / mo$201.41$201.41$96.30
HOA / mo$92.67$92.67$92.67
Total monthly$2,162.47$3,800.29$3,928.74
Cash to close$307,099$53,500$53,500