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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$199,550$199,550$418,499
Remaining term (yrs)24.024.030.0
Secondary amount$0$218,949$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.828%7.42%
1st payment$957.18$957.18$2,835.06
2nd payment$0.00$1,414.05$0.00
Taxes / mo$133.75$133.75$133.75
Insurance / mo$166.67$166.67$166.67
MI / mo$163.52$163.52$83.70
HOA / mo$115.00$115.00$115.00
Total monthly$1,536.12$2,950.16$3,334.18
Cash to close$265,449$46,500$46,500