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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$291,323$291,323$494,100
Remaining term (yrs)23.523.530.0
Secondary amount$0$202,777$0
Funding fee$0$0$0
Note rate3.5%3.5%7.18%
Blended rate4.35%5.745%7.42%
1st payment$1,513.46$1,513.46$3,347.21
2nd payment$0.00$1,309.60$0.00
Taxes / mo$183.08$183.08$183.08
Insurance / mo$166.67$166.67$166.67
MI / mo$238.74$238.74$98.82
HOA / mo$0.00$0.00$0.00
Total monthly$2,101.95$3,411.56$3,795.78
Cash to close$257,677$54,900$54,900