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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$218,826$218,826$251,999
Remaining term (yrs)25.125.130.0
Secondary amount$0$33,173$0
Funding fee$0$0$0
Note rate3.07%3.07%7.18%
Blended rate3.92%4.589%7.42%
1st payment$1,038.80$1,038.80$1,707.13
2nd payment$0.00$248.80$0.00
Taxes / mo$54.50$54.50$54.50
Insurance / mo$150.00$150.00$150.00
MI / mo$172.98$172.98$50.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,416.27$1,665.07$1,962.03
Cash to close$61,173$28,000$28,000