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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$175,729$175,729$250,110
Remaining term (yrs)24.824.830.0
Secondary amount$0$74,381$0
Funding fee$0$0$0
Note rate2.78%2.78%7.18%
Blended rate3.63%5.227%7.42%
1st payment$815.24$815.24$1,694.33
2nd payment$0.00$557.86$0.00
Taxes / mo$22.75$22.75$22.75
Insurance / mo$150.00$150.00$150.00
MI / mo$140.90$140.90$50.02
HOA / mo$0.00$0.00$0.00
Total monthly$1,128.89$1,686.75$1,917.10
Cash to close$102,171$27,790$27,790