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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$328,834$328,834$360,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$31,166$0
Funding fee$0$0$0
Note rate3.25%3.25%7.18%
Blended rate4.1%4.524%7.42%
1st payment$1,602.46$1,602.46$2,438.77
2nd payment$0.00$233.75$0.00
Taxes / mo$110.92$110.92$110.92
Insurance / mo$0.00$0.00$0.00
MI / mo$260.81$260.81$72.00
HOA / mo$63.00$63.00$63.00
Total monthly$2,037.19$2,270.94$2,684.68
Cash to close$71,166$40,000$40,000