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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$178,184$178,184$359,910
Remaining term (yrs)24.124.130.0
Secondary amount$0$181,726$0
Funding fee$0$0$0
Note rate2.625%2.625%7.18%
Blended rate3.475%5.76%7.42%
1st payment$830.44$830.44$2,438.16
2nd payment$0.00$1,211.50$0.00
Taxes / mo$57.50$57.50$57.50
Insurance / mo$0.00$0.00$0.00
MI / mo$146.45$146.45$71.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,034.39$2,245.89$2,567.64
Cash to close$221,716$39,990$39,990