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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$218,022$218,022$292,500
Remaining term (yrs)25.225.230.0
Secondary amount$0$74,478$0
Funding fee$0$0$0
Note rate3.22%3.22%7.18%
Blended rate4.07%5.325%7.42%
1st payment$1,049.93$1,049.93$1,981.50
2nd payment$0.00$558.59$0.00
Taxes / mo$139.33$139.33$139.33
Insurance / mo$150.00$150.00$150.00
MI / mo$171.53$171.53$58.50
HOA / mo$68.67$68.67$68.67
Total monthly$1,579.47$2,138.06$2,398.00
Cash to close$106,978$32,500$32,500