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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$212,005$212,005$265,500
Remaining term (yrs)23.923.930.0
Secondary amount$0$53,495$0
Funding fee$0$0$0
Note rate2.94%2.94%7.18%
Blended rate3.79%4.84%7.42%
1st payment$1,026.99$1,026.99$1,798.59
2nd payment$0.00$401.21$0.00
Taxes / mo$166.67$166.67$166.67
Insurance / mo$150.00$150.00$150.00
MI / mo$173.88$173.88$53.10
HOA / mo$52.00$52.00$52.00
Total monthly$1,569.53$1,970.75$2,220.36
Cash to close$82,995$29,500$29,500