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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$282,966$282,966$377,100
Remaining term (yrs)24.624.630.0
Secondary amount$0$94,134$0
Funding fee$0$0$0
Note rate2.95%2.95%7.18%
Blended rate3.8%5.098%7.42%
1st payment$1,343.63$1,343.63$2,554.61
2nd payment$0.00$706.01$0.00
Taxes / mo$227.92$227.92$227.92
Insurance / mo$150.00$150.00$150.00
MI / mo$227.19$227.19$75.42
HOA / mo$146.00$146.00$146.00
Total monthly$2,094.74$2,800.75$3,153.94
Cash to close$136,034$41,900$41,900