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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$271,092$271,092$292,500
Remaining term (yrs)20.320.330.0
Secondary amount$0$37,658$0
Funding fee$0$0$0
Note rate3.39%3.39%7.18%
Blended rate4.24%5.171%7.42%
1st payment$1,534.74$1,534.74$1,981.50
2nd payment$0.00$372.65$0.00
Taxes / mo$249.57$249.57$249.57
Insurance / mo$150.00$150.00$150.00
MI / mo$245.44$245.44$58.50
HOA / mo$113.33$113.33$113.33
Total monthly$2,293.08$2,665.73$2,552.89
Cash to close$53,908$16,250$32,500