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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$266,640$266,640$607,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$340,860$0
Funding fee$0$0$0
Note rate2.8%2.8%7.18%
Blended rate3.65%5.95%7.42%
1st payment$1,266.38$1,266.38$4,115.42
2nd payment$0.00$2,201.39$0.00
Taxes / mo$277.75$277.75$277.75
Insurance / mo$166.67$166.67$166.67
MI / mo$218.31$218.31$121.50
HOA / mo$33.00$33.00$33.00
Total monthly$1,962.10$4,163.49$4,714.33
Cash to close$408,360$67,500$67,500