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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$301,516$301,516$449,999
Remaining term (yrs)24.424.430.0
Secondary amount$0$148,483$0
Funding fee$0$0$0
Note rate2.74%2.74%7.18%
Blended rate3.59%5.045%7.42%
1st payment$1,409.15$1,409.15$3,048.45
2nd payment$0.00$989.89$0.00
Taxes / mo$171.75$171.75$171.75
Insurance / mo$166.67$166.67$166.67
MI / mo$244.82$244.82$90.00
HOA / mo$55.00$55.00$55.00
Total monthly$2,047.38$3,037.27$3,531.87
Cash to close$198,483$50,000$50,000