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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$270,481$270,481$513,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$242,519$0
Funding fee$0$0$0
Note rate2.89%2.89%7.18%
Blended rate3.74%5.636%7.42%
1st payment$1,297.08$1,297.08$3,475.24
2nd payment$0.00$1,566.27$0.00
Taxes / mo$237.67$237.67$237.67
Insurance / mo$166.67$166.67$166.67
MI / mo$221.02$221.02$102.60
HOA / mo$237.00$237.00$237.00
Total monthly$2,159.44$3,725.71$4,219.17
Cash to close$299,519$57,000$57,000