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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$230,753$230,753$264,600
Remaining term (yrs)24.424.430.0
Secondary amount$0$33,847$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.343%7.42%
1st payment$1,086.69$1,086.69$1,792.49
2nd payment$0.00$253.85$0.00
Taxes / mo$100.17$100.17$100.17
Insurance / mo$150.00$150.00$150.00
MI / mo$187.09$187.09$52.92
HOA / mo$46.00$46.00$46.00
Total monthly$1,569.94$1,823.80$2,141.58
Cash to close$63,247$29,400$29,400