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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$235,900$235,900$305,910
Remaining term (yrs)24.424.430.0
Secondary amount$0$70,010$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.882%7.42%
1st payment$1,110.93$1,110.93$2,072.34
2nd payment$0.00$525.07$0.00
Taxes / mo$115.58$115.58$115.58
Insurance / mo$150.00$150.00$150.00
MI / mo$191.26$191.26$61.18
HOA / mo$65.00$65.00$65.00
Total monthly$1,632.78$2,157.85$2,464.11
Cash to close$104,000$33,990$33,990