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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$224,679$224,679$313,200
Remaining term (yrs)25.025.030.0
Secondary amount$0$88,521$0
Funding fee$0$0$0
Note rate2.9%2.9%7.18%
Blended rate3.75%5.234%7.42%
1st payment$1,051.42$1,051.42$2,121.73
2nd payment$0.00$663.91$0.00
Taxes / mo$179.50$179.50$179.50
Insurance / mo$150.00$150.00$150.00
MI / mo$178.93$178.93$62.64
HOA / mo$78.33$78.33$78.33
Total monthly$1,638.18$2,302.09$2,592.20
Cash to close$123,321$34,800$34,800