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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$227,397$227,397$337,410
Remaining term (yrs)23.623.630.0
Secondary amount$0$110,013$0
Funding fee$0$0$0
Note rate3.15%3.15%7.18%
Blended rate4%5.304%7.42%
1st payment$1,134.21$1,134.21$2,285.73
2nd payment$0.00$733.42$0.00
Taxes / mo$158.58$158.58$158.58
Insurance / mo$150.00$150.00$150.00
MI / mo$186.95$186.95$67.48
HOA / mo$162.00$162.00$162.00
Total monthly$1,791.75$2,525.17$2,823.80
Cash to close$147,503$37,490$37,490