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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$299,920$299,920$705,600
Remaining term (yrs)23.123.130.0
Secondary amount$0$405,680$0
Funding fee$0$0$0
Note rate3.7%3.7%7.18%
Blended rate4.55%6.39%7.42%
1st payment$1,604.41$1,604.41$4,779.98
2nd payment$0.00$2,620.01$0.00
Taxes / mo$225.25$225.25$225.25
Insurance / mo$216.67$216.67$216.67
MI / mo$246.90$246.90$141.12
HOA / mo$0.00$0.00$0.00
Total monthly$2,293.23$4,913.24$5,363.02
Cash to close$484,080$78,400$78,400