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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$282,720$282,720$382,500
Remaining term (yrs)24.624.630.0
Secondary amount$0$99,780$0
Funding fee$0$0$0
Note rate3.06%3.06%7.18%
Blended rate3.91%5.238%7.42%
1st payment$1,361.69$1,361.69$2,591.19
2nd payment$0.00$748.35$0.00
Taxes / mo$80.75$80.75$80.75
Insurance / mo$150.00$150.00$150.00
MI / mo$227.03$227.03$76.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,819.46$2,567.82$2,898.44
Cash to close$142,280$42,500$42,500