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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$197,091$197,091$261,000
Remaining term (yrs)24.224.230.0
Secondary amount$0$63,909$0
Funding fee$0$0$0
Note rate2.71%2.71%7.18%
Blended rate3.56%4.892%7.42%
1st payment$922.54$922.54$1,768.10
2nd payment$0.00$479.31$0.00
Taxes / mo$63.83$63.83$63.83
Insurance / mo$150.00$150.00$150.00
MI / mo$160.90$160.90$52.20
HOA / mo$290.00$290.00$290.00
Total monthly$1,587.27$2,066.59$2,324.14
Cash to close$92,909$29,000$29,000