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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$199,031$199,031$297,000
Remaining term (yrs)23.823.830.0
Secondary amount$0$97,969$0
Funding fee$0$0$0
Note rate2.99%2.99%7.18%
Blended rate3.84%5.542%7.42%
1st payment$971.58$971.58$2,011.98
2nd payment$0.00$734.77$0.00
Taxes / mo$134.75$134.75$134.75
Insurance / mo$150.00$150.00$150.00
MI / mo$163.44$163.44$59.40
HOA / mo$60.67$60.67$60.67
Total monthly$1,480.44$2,215.21$2,416.80
Cash to close$130,969$33,000$33,000