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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$191,571$191,571$346,499
Remaining term (yrs)25.225.230.0
Secondary amount$0$154,928$0
Funding fee$0$0$0
Note rate3.1%3.1%7.18%
Blended rate3.95%5.761%7.42%
1st payment$912.43$912.43$2,347.31
2nd payment$0.00$1,032.85$0.00
Taxes / mo$125.33$125.33$125.33
Insurance / mo$150.00$150.00$150.00
MI / mo$151.35$151.35$69.30
HOA / mo$47.00$47.00$47.00
Total monthly$1,386.11$2,418.97$2,738.94
Cash to close$193,428$38,500$38,500