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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$213,848$213,848$315,000
Remaining term (yrs)24.524.530.0
Secondary amount$0$101,152$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%5.054%7.42%
1st payment$1,004.70$1,004.70$2,133.92
2nd payment$0.00$674.35$0.00
Taxes / mo$132.17$132.17$132.17
Insurance / mo$150.00$150.00$150.00
MI / mo$172.98$172.98$63.00
HOA / mo$387.00$387.00$387.00
Total monthly$1,846.84$2,521.19$2,866.09
Cash to close$136,152$35,000$35,000