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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$209,214$209,214$292,500
Remaining term (yrs)23.623.630.0
Secondary amount$0$83,286$0
Funding fee$0$0$0
Note rate3.31%3.31%7.18%
Blended rate4.16%5.538%7.42%
1st payment$1,063.47$1,063.47$1,981.50
2nd payment$0.00$624.64$0.00
Taxes / mo$174.92$174.92$174.92
Insurance / mo$150.00$150.00$150.00
MI / mo$171.79$171.79$58.50
HOA / mo$75.00$75.00$75.00
Total monthly$1,635.17$2,259.81$2,439.91
Cash to close$115,786$32,500$32,500