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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$281,473$281,473$296,996
Remaining term (yrs)24.624.630.0
Secondary amount$0$32,022$0
Funding fee$0$0$0
Note rate2.94%2.94%7.18%
Blended rate3.79%4.616%7.42%
1st payment$1,335.09$1,335.09$2,011.95
2nd payment$0.00$316.88$0.00
Taxes / mo$79.33$79.33$79.33
Insurance / mo$150.00$150.00$150.00
MI / mo$226.04$226.04$59.40
HOA / mo$112.00$112.00$112.00
Total monthly$1,902.46$2,219.34$2,412.68
Cash to close$48,522$16,500$33,000