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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$274,196$274,196$369,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$94,804$0
Funding fee$0$0$0
Note rate2.84%2.84%7.18%
Blended rate3.69%5.054%7.42%
1st payment$1,277.57$1,277.57$2,499.73
2nd payment$0.00$711.03$0.00
Taxes / mo$106.00$106.00$106.00
Insurance / mo$150.00$150.00$150.00
MI / mo$219.10$219.10$73.80
HOA / mo$65.00$65.00$65.00
Total monthly$1,817.67$2,528.70$2,894.53
Cash to close$135,804$41,000$41,000