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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$222,263$222,263$238,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$29,487$0
Funding fee$0$0$0
Note rate3.02%3.02%7.18%
Blended rate3.87%4.808%7.42%
1st payment$1,070.77$1,070.77$1,615.68
2nd payment$0.00$291.79$0.00
Taxes / mo$106.83$106.83$106.83
Insurance / mo$150.00$150.00$150.00
MI / mo$179.44$179.44$47.70
HOA / mo$81.00$81.00$81.00
Total monthly$1,588.04$1,879.83$2,001.22
Cash to close$42,737$13,250$26,500