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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 · VA
Assumable Loan + Second
Assumable · VA
Current Market Conventional
New · Conventional
Loan amount$0$0$216,000
Remaining term (yrs)2.12.130.0
Secondary amount$0$216,000$0
Funding fee$0$0$0
Note rate3%3%7.18%
Blended rate3%7.75%7.42%
1st payment$0.00$0.00$1,463.26
2nd payment$0.00$1,395.00$0.00
Taxes / mo$113.75$113.75$113.75
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$43.20
HOA / mo$0.00$0.00$0.00
Total monthly$263.75$1,658.75$1,770.21
Cash to close$240,000$24,000$24,000