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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$242,511$242,511$256,500
Remaining term (yrs)24.624.630.0
Secondary amount$0$28,239$0
Funding fee$0$0$0
Note rate3.06%3.06%7.18%
Blended rate3.91%4.741%7.42%
1st payment$1,168.02$1,168.02$1,737.62
2nd payment$0.00$279.45$0.00
Taxes / mo$8.92$8.92$8.92
Insurance / mo$150.00$150.00$150.00
MI / mo$194.74$194.74$51.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,521.68$1,801.13$1,947.84
Cash to close$42,489$14,250$28,500