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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$256,360$256,360$408,600
Remaining term (yrs)24.324.330.0
Secondary amount$0$152,240$0
Funding fee$0$0$0
Note rate2.74%2.74%7.18%
Blended rate3.59%5.233%7.42%
1st payment$1,200.98$1,200.98$2,768.00
2nd payment$0.00$1,014.94$0.00
Taxes / mo$80.67$80.67$80.67
Insurance / mo$166.67$166.67$166.67
MI / mo$208.65$208.65$81.72
HOA / mo$0.00$0.00$0.00
Total monthly$1,656.96$2,671.90$3,097.05
Cash to close$197,640$45,400$45,400