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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$266,814$266,814$607,410
Remaining term (yrs)24.124.130.0
Secondary amount$0$340,596$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%5.962%7.42%
1st payment$1,271.30$1,271.30$4,114.81
2nd payment$0.00$2,199.68$0.00
Taxes / mo$277.75$277.75$277.75
Insurance / mo$166.67$166.67$166.67
MI / mo$218.31$218.31$121.48
HOA / mo$53.00$53.00$53.00
Total monthly$1,987.02$4,186.70$4,733.71
Cash to close$408,086$67,490$67,490