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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$235,218$235,218$283,410
Remaining term (yrs)25.025.030.0
Secondary amount$0$48,192$0
Funding fee$0$0$0
Note rate2.88%2.88%7.18%
Blended rate3.73%4.626%7.42%
1st payment$1,098.31$1,098.31$1,919.92
2nd payment$0.00$361.44$0.00
Taxes / mo$90.92$90.92$90.92
Insurance / mo$150.00$150.00$150.00
MI / mo$187.39$187.39$56.68
HOA / mo$0.00$0.00$0.00
Total monthly$1,526.61$1,888.05$2,217.52
Cash to close$79,682$31,490$31,490