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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$277,962$277,962$404,910
Remaining term (yrs)24.124.130.0
Secondary amount$0$126,948$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%5.034%7.42%
1st payment$1,324.41$1,324.41$2,743.00
2nd payment$0.00$846.32$0.00
Taxes / mo$69.50$69.50$69.50
Insurance / mo$150.00$150.00$150.00
MI / mo$227.43$227.43$80.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,771.34$2,617.66$3,043.48
Cash to close$171,938$44,990$44,990