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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$239,812$239,812$283,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$43,688$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.534%7.42%
1st payment$1,123.63$1,123.63$1,920.53
2nd payment$0.00$327.66$0.00
Taxes / mo$124.75$124.75$124.75
Insurance / mo$150.00$150.00$150.00
MI / mo$191.96$191.96$56.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,590.34$1,918.00$2,251.98
Cash to close$75,188$31,500$31,500