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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$228,827$228,827$310,500
Remaining term (yrs)23.823.830.0
Secondary amount$0$81,673$0
Funding fee$0$0$0
Note rate3.02%3.02%7.18%
Blended rate3.87%5.219%7.42%
1st payment$1,120.57$1,120.57$2,103.44
2nd payment$0.00$612.55$0.00
Taxes / mo$157.42$157.42$157.42
Insurance / mo$150.00$150.00$150.00
MI / mo$187.79$187.79$62.10
HOA / mo$92.00$92.00$92.00
Total monthly$1,707.77$2,320.32$2,564.95
Cash to close$116,173$34,500$34,500