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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$218,548$218,548$351,000
Remaining term (yrs)23.823.830.0
Secondary amount$0$132,452$0
Funding fee$0$0$0
Note rate2.99%2.99%7.18%
Blended rate3.84%5.41%7.42%
1st payment$1,066.85$1,066.85$2,377.80
2nd payment$0.00$883.01$0.00
Taxes / mo$193.75$193.75$193.75
Insurance / mo$150.00$150.00$150.00
MI / mo$179.47$179.47$70.20
HOA / mo$78.00$78.00$78.00
Total monthly$1,668.07$2,551.09$2,869.75
Cash to close$171,452$39,000$39,000