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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$219,415$219,415$327,599
Remaining term (yrs)25.225.230.0
Secondary amount$0$108,185$0
Funding fee$0$0$0
Note rate3.1%3.1%7.18%
Blended rate3.95%5.287%7.42%
1st payment$1,042.77$1,042.77$2,219.27
2nd payment$0.00$721.23$0.00
Taxes / mo$41.75$41.75$41.75
Insurance / mo$150.00$150.00$150.00
MI / mo$172.98$172.98$65.52
HOA / mo$0.00$0.00$0.00
Total monthly$1,407.50$2,128.73$2,476.54
Cash to close$144,584$36,400$36,400