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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$275,831$275,831$323,910
Remaining term (yrs)24.724.730.0
Secondary amount$0$48,079$0
Funding fee$0$0$0
Note rate2.9%2.9%7.18%
Blended rate3.75%4.529%7.42%
1st payment$1,299.64$1,299.64$2,194.28
2nd payment$0.00$360.59$0.00
Taxes / mo$78.17$78.17$78.17
Insurance / mo$150.00$150.00$150.00
MI / mo$221.17$221.17$64.78
HOA / mo$0.00$0.00$0.00
Total monthly$1,748.97$2,109.57$2,487.23
Cash to close$84,069$35,990$35,990