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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$306,137$306,137$324,000
Remaining term (yrs)24.824.830.0
Secondary amount$0$35,863$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.575%7.42%
1st payment$1,434.40$1,434.40$2,194.89
2nd payment$0.00$354.89$0.00
Taxes / mo$168.75$168.75$168.75
Insurance / mo$150.00$150.00$150.00
MI / mo$245.05$245.05$64.80
HOA / mo$86.00$86.00$86.00
Total monthly$2,084.19$2,439.09$2,664.44
Cash to close$53,863$18,000$36,000