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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$146,245$146,245$309,150
Remaining term (yrs)24.724.730.0
Secondary amount$0$162,905$0
Funding fee$0$0$0
Note rate2.98%2.98%7.18%
Blended rate3.83%6.027%7.42%
1st payment$695.12$695.12$2,094.29
2nd payment$0.00$1,086.03$0.00
Taxes / mo$103.33$103.33$103.33
Insurance / mo$150.00$150.00$150.00
MI / mo$117.09$117.09$61.83
HOA / mo$45.00$45.00$45.00
Total monthly$1,110.54$2,196.57$2,454.45
Cash to close$197,255$34,350$34,350