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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$230,000$230,000$302,625
Remaining term (yrs)24.924.930.0
Secondary amount$0$72,625$0
Funding fee$0$0$0
Note rate2.84%2.84%7.18%
Blended rate3.69%4.964%7.42%
1st payment$1,071.64$1,071.64$2,050.09
2nd payment$0.00$544.69$0.00
Taxes / mo$139.83$139.83$139.83
Insurance / mo$150.00$150.00$150.00
MI / mo$183.79$183.79$60.53
HOA / mo$92.00$92.00$92.00
Total monthly$1,637.26$2,181.95$2,492.45
Cash to close$106,250$33,625$33,625