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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$192,561$192,561$279,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$86,439$0
Funding fee$0$0$0
Note rate2.77%2.77%7.18%
Blended rate3.62%5.287%7.42%
1st payment$909.40$909.40$1,890.04
2nd payment$0.00$648.29$0.00
Taxes / mo$96.33$96.33$96.33
Insurance / mo$150.00$150.00$150.00
MI / mo$157.38$157.38$55.80
HOA / mo$86.33$86.33$86.33
Total monthly$1,399.45$2,047.74$2,278.51
Cash to close$117,439$31,000$31,000