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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$243,230$243,230$387,000
Remaining term (yrs)23.623.630.0
Secondary amount$0$143,770$0
Funding fee$0$0$0
Note rate3.23%3.23%7.18%
Blended rate4.08%5.536%7.42%
1st payment$1,223.32$1,223.32$2,621.67
2nd payment$0.00$958.47$0.00
Taxes / mo$242.33$242.33$242.33
Insurance / mo$150.00$150.00$150.00
MI / mo$199.61$199.61$77.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,815.27$2,773.74$3,091.41
Cash to close$186,770$43,000$43,000