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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$224,060$224,060$395,100
Remaining term (yrs)23.623.630.0
Secondary amount$0$171,040$0
Funding fee$0$0$0
Note rate3.23%3.23%7.18%
Blended rate4.08%5.777%7.42%
1st payment$1,129.55$1,129.55$2,676.55
2nd payment$0.00$1,140.27$0.00
Taxes / mo$126.25$126.25$126.25
Insurance / mo$150.00$150.00$150.00
MI / mo$184.31$184.31$79.02
HOA / mo$105.00$105.00$105.00
Total monthly$1,695.11$2,835.38$3,136.82
Cash to close$214,940$43,900$43,900