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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$284,695$284,695$346,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$61,805$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.662%7.42%
1st payment$1,333.93$1,333.93$2,347.31
2nd payment$0.00$463.54$0.00
Taxes / mo$193.33$193.33$193.33
Insurance / mo$150.00$150.00$150.00
MI / mo$227.88$227.88$69.30
HOA / mo$60.67$60.67$60.67
Total monthly$1,965.82$2,429.36$2,820.62
Cash to close$100,305$38,500$38,500