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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$207,501$207,501$502,200
Remaining term (yrs)24.224.230.0
Secondary amount$0$294,699$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%6.068%7.42%
1st payment$986.32$986.32$3,402.08
2nd payment$0.00$1,903.27$0.00
Taxes / mo$144.33$144.33$144.33
Insurance / mo$166.67$166.67$166.67
MI / mo$169.37$169.37$100.44
HOA / mo$158.00$158.00$158.00
Total monthly$1,624.69$3,527.95$3,971.52
Cash to close$350,499$55,800$55,800