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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$337,895$337,895$400,500
Remaining term (yrs)25.125.130.0
Secondary amount$0$62,605$0
Funding fee$0$0$0
Note rate3.1%3.1%7.18%
Blended rate3.95%4.739%7.42%
1st payment$1,609.35$1,609.35$2,713.13
2nd payment$0.00$469.54$0.00
Taxes / mo$213.67$213.67$213.67
Insurance / mo$150.00$150.00$150.00
MI / mo$266.96$266.96$80.10
HOA / mo$60.00$60.00$60.00
Total monthly$2,299.97$2,769.51$3,216.89
Cash to close$107,105$44,500$44,500