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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$298,057$298,057$382,500
Remaining term (yrs)25.125.130.0
Secondary amount$0$84,443$0
Funding fee$0$0$0
Note rate3.09%3.09%7.18%
Blended rate3.94%5.057%7.42%
1st payment$1,421.14$1,421.14$2,591.19
2nd payment$0.00$633.32$0.00
Taxes / mo$185.17$185.17$185.17
Insurance / mo$150.00$150.00$150.00
MI / mo$236.04$236.04$76.50
HOA / mo$92.00$92.00$92.00
Total monthly$2,084.35$2,717.67$3,094.85
Cash to close$126,943$42,500$42,500