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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$242,600$242,600$297,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$54,400$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%4.654%7.42%
1st payment$1,155.92$1,155.92$2,011.98
2nd payment$0.00$408.00$0.00
Taxes / mo$90.33$90.33$90.33
Insurance / mo$150.00$150.00$150.00
MI / mo$198.50$198.50$59.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,594.75$2,002.75$2,311.71
Cash to close$87,400$33,000$33,000