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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$212,278$212,278$305,910
Remaining term (yrs)24.024.030.0
Secondary amount$0$93,632$0
Funding fee$0$0$0
Note rate2.89%2.89%7.18%
Blended rate3.74%5.35%7.42%
1st payment$1,020.41$1,020.41$2,072.34
2nd payment$0.00$702.24$0.00
Taxes / mo$107.25$107.25$107.25
Insurance / mo$150.00$150.00$150.00
MI / mo$173.88$173.88$61.18
HOA / mo$70.00$70.00$70.00
Total monthly$1,521.54$2,223.77$2,460.77
Cash to close$127,622$33,990$33,990