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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$197,724$197,724$342,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$144,276$0
Funding fee$0$0$0
Note rate3.06%3.06%7.18%
Blended rate3.91%5.635%7.42%
1st payment$952.32$952.32$2,316.83
2nd payment$0.00$961.84$0.00
Taxes / mo$74.58$74.58$74.58
Insurance / mo$150.00$150.00$150.00
MI / mo$158.78$158.78$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,335.68$2,297.51$2,609.81
Cash to close$182,276$38,000$38,000