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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$280,473$280,473$306,000
Remaining term (yrs)25.625.630.0
Secondary amount$0$25,527$0
Funding fee$0$0$0
Note rate5.23%5.23%7.18%
Blended rate6.08%6.324%7.42%
1st payment$1,653.79$1,653.79$2,072.95
2nd payment$0.00$191.45$0.00
Taxes / mo$142.33$142.33$142.33
Insurance / mo$150.00$150.00$150.00
MI / mo$212.61$212.61$61.20
HOA / mo$0.00$0.00$0.00
Total monthly$2,158.74$2,350.19$2,426.48
Cash to close$59,527$34,000$34,000