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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$156,680$156,680$287,910
Remaining term (yrs)20.820.830.0
Secondary amount$0$131,230$0
Funding fee$0$0$0
Note rate2.98%2.98%7.18%
Blended rate3.83%5.731%7.42%
1st payment$839.60$839.60$1,950.40
2nd payment$0.00$874.86$0.00
Taxes / mo$167.67$167.67$167.67
Insurance / mo$150.00$150.00$150.00
MI / mo$129.02$129.02$57.58
HOA / mo$70.00$70.00$70.00
Total monthly$1,356.29$2,231.16$2,395.65
Cash to close$163,220$31,990$31,990