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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$245,250$245,250$373,491
Remaining term (yrs)24.324.330.0
Secondary amount$0$128,241$0
Funding fee$0$0$0
Note rate2.74%2.74%7.18%
Blended rate3.59%5.104%7.42%
1st payment$1,148.94$1,148.94$2,530.16
2nd payment$0.00$854.94$0.00
Taxes / mo$215.42$215.42$215.42
Insurance / mo$150.00$150.00$150.00
MI / mo$199.61$199.61$74.70
HOA / mo$61.00$61.00$61.00
Total monthly$1,774.96$2,629.90$3,031.27
Cash to close$169,740$41,499$41,499