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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$256,133$256,133$301,500
Remaining term (yrs)29.129.130.0
Secondary amount$0$45,367$0
Funding fee$0$0$0
Note rate5.25%5.25%7.18%
Blended rate5.8%6.282%7.42%
1st payment$1,429.39$1,429.39$2,042.47
2nd payment$0.00$340.26$0.00
Taxes / mo$110.58$110.58$110.58
Insurance / mo$150.00$150.00$150.00
MI / mo$118.64$118.64$60.30
HOA / mo$97.00$97.00$97.00
Total monthly$1,905.61$2,245.87$2,460.35
Cash to close$78,867$33,500$33,500