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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$330,289$330,289$423,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$92,711$0
Funding fee$0$0$0
Note rate3.06%3.06%7.18%
Blended rate3.91%5.026%7.42%
1st payment$1,590.80$1,590.80$2,865.55
2nd payment$0.00$695.33$0.00
Taxes / mo$143.83$143.83$143.83
Insurance / mo$166.67$166.67$166.67
MI / mo$265.23$265.23$84.60
HOA / mo$0.00$0.00$0.00
Total monthly$2,166.52$2,861.86$3,260.65
Cash to close$139,711$47,000$47,000