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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$247,492$247,492$329,310
Remaining term (yrs)24.724.730.0
Secondary amount$0$81,818$0
Funding fee$0$0$0
Note rate2.93%2.93%7.18%
Blended rate3.78%5.077%7.42%
1st payment$1,169.95$1,169.95$2,230.86
2nd payment$0.00$613.64$0.00
Taxes / mo$89.33$89.33$89.33
Insurance / mo$150.00$150.00$150.00
MI / mo$198.33$198.33$65.86
HOA / mo$29.33$29.33$29.33
Total monthly$1,636.94$2,250.58$2,565.39
Cash to close$118,408$36,590$36,590