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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$314,386$314,386$346,050
Remaining term (yrs)24.924.930.0
Secondary amount$0$31,664$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.203%7.42%
1st payment$1,469.68$1,469.68$2,344.26
2nd payment$0.00$237.48$0.00
Taxes / mo$102.50$102.50$102.50
Insurance / mo$150.00$150.00$150.00
MI / mo$251.08$251.08$69.21
HOA / mo$61.00$61.00$61.00
Total monthly$2,034.26$2,271.74$2,726.97
Cash to close$70,114$38,450$38,450