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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$216,995$216,995$274,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$57,505$0
Funding fee$0$0$0
Note rate2.88%2.88%7.18%
Blended rate3.73%4.834%7.42%
1st payment$1,039.48$1,039.48$1,859.56
2nd payment$0.00$431.28$0.00
Taxes / mo$85.08$85.08$85.08
Insurance / mo$214.21$214.21$214.21
MI / mo$177.35$177.35$54.90
HOA / mo$86.33$86.33$86.33
Total monthly$1,602.46$2,033.74$2,300.08
Cash to close$88,005$30,500$30,500