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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$175,578$175,578$372,599
Remaining term (yrs)24.824.830.0
Secondary amount$0$197,021$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.983%7.42%
1st payment$822.67$822.67$2,524.12
2nd payment$0.00$1,313.47$0.00
Taxes / mo$218.50$218.50$218.50
Insurance / mo$150.00$150.00$150.00
MI / mo$140.54$140.54$74.52
HOA / mo$225.00$225.00$225.00
Total monthly$1,556.71$2,870.18$3,192.14
Cash to close$238,421$41,400$41,400