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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$229,725$229,725$270,000
Remaining term (yrs)24.324.330.0
Secondary amount$0$40,275$0
Funding fee$0$0$0
Note rate2.73%2.73%7.18%
Blended rate3.58%4.388%7.42%
1st payment$1,075.04$1,075.04$1,829.07
2nd payment$0.00$302.06$0.00
Taxes / mo$164.08$164.08$164.08
Insurance / mo$150.00$150.00$150.00
MI / mo$187.01$187.01$54.00
HOA / mo$91.00$91.00$91.00
Total monthly$1,667.13$1,969.19$2,288.16
Cash to close$70,275$30,000$30,000