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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$292,170$292,170$427,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$135,330$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%5.048%7.42%
1st payment$1,392.11$1,392.11$2,896.03
2nd payment$0.00$902.20$0.00
Taxes / mo$183.42$183.42$183.42
Insurance / mo$166.67$166.67$166.67
MI / mo$239.05$239.05$85.50
HOA / mo$63.00$63.00$63.00
Total monthly$2,044.25$2,946.45$3,394.62
Cash to close$182,830$47,500$47,500