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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$251,106$251,106$427,500
Remaining term (yrs)23.823.830.0
Secondary amount$0$176,394$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.486%7.42%
1st payment$1,210.31$1,210.31$2,896.03
2nd payment$0.00$1,175.96$0.00
Taxes / mo$122.83$122.83$122.83
Insurance / mo$166.67$166.67$166.67
MI / mo$206.77$206.77$85.50
HOA / mo$86.00$86.00$86.00
Total monthly$1,792.57$2,968.53$3,357.03
Cash to close$223,894$47,500$47,500