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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$251,345$251,345$351,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$99,655$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.219%7.42%
1st payment$1,202.74$1,202.74$2,377.80
2nd payment$0.00$747.42$0.00
Taxes / mo$111.92$111.92$111.92
Insurance / mo$150.00$150.00$150.00
MI / mo$205.47$205.47$70.20
HOA / mo$120.00$120.00$120.00
Total monthly$1,790.13$2,537.54$2,829.91
Cash to close$138,655$39,000$39,000