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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$232,382$232,382$283,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$51,118$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.623%7.42%
1st payment$1,094.36$1,094.36$1,920.53
2nd payment$0.00$383.38$0.00
Taxes / mo$178.92$178.92$178.92
Insurance / mo$150.00$150.00$150.00
MI / mo$188.41$188.41$56.70
HOA / mo$60.67$60.67$60.67
Total monthly$1,672.36$2,055.74$2,366.81
Cash to close$82,618$31,500$31,500