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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$321,624$321,624$351,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$29,376$0
Funding fee$0$0$0
Note rate2.77%2.77%7.18%
Blended rate3.62%4.07%7.42%
1st payment$1,486.98$1,486.98$2,377.80
2nd payment$0.00$220.32$0.00
Taxes / mo$156.08$156.08$156.08
Insurance / mo$150.00$150.00$150.00
MI / mo$257.34$257.34$70.20
HOA / mo$0.00$0.00$0.00
Total monthly$2,050.40$2,270.72$2,754.08
Cash to close$68,376$39,000$39,000