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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$269,600$269,600$386,910
Remaining term (yrs)24.124.130.0
Secondary amount$0$117,310$0
Funding fee$0$0$0
Note rate3%3%7.18%
Blended rate3.85%5.108%7.42%
1st payment$1,308.14$1,308.14$2,621.06
2nd payment$0.00$782.07$0.00
Taxes / mo$118.92$118.92$118.92
Insurance / mo$150.00$150.00$150.00
MI / mo$219.78$219.78$77.38
HOA / mo$165.00$165.00$165.00
Total monthly$1,961.83$2,743.90$3,132.36
Cash to close$160,300$42,990$42,990