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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$219,614$219,614$299,700
Remaining term (yrs)25.125.130.0
Secondary amount$0$80,086$0
Funding fee$0$0$0
Note rate2.99%2.99%7.18%
Blended rate3.84%5.219%7.42%
1st payment$1,035.66$1,035.66$2,030.27
2nd payment$0.00$600.64$0.00
Taxes / mo$88.42$88.42$88.42
Insurance / mo$150.00$150.00$150.00
MI / mo$174.22$174.22$59.94
HOA / mo$370.00$370.00$370.00
Total monthly$1,818.30$2,418.94$2,698.63
Cash to close$113,386$33,300$33,300