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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$176,228$176,228$427,410
Remaining term (yrs)20.320.330.0
Secondary amount$0$251,182$0
Funding fee$0$0$0
Note rate3.56%3.56%7.18%
Blended rate4.41%6.373%7.42%
1st payment$1,013.12$1,013.12$2,895.42
2nd payment$0.00$1,622.22$0.00
Taxes / mo$115.50$115.50$115.50
Insurance / mo$166.67$166.67$166.67
MI / mo$142.43$142.43$85.48
HOA / mo$0.00$0.00$0.00
Total monthly$1,437.71$3,059.93$3,263.07
Cash to close$298,672$47,490$47,490