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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$214,487$214,487$247,500
Remaining term (yrs)24.324.330.0
Secondary amount$0$33,013$0
Funding fee$0$0$0
Note rate2.74%2.74%7.18%
Blended rate3.59%4.312%7.42%
1st payment$1,004.82$1,004.82$1,676.65
2nd payment$0.00$247.60$0.00
Taxes / mo$99.92$99.92$99.92
Insurance / mo$150.00$150.00$150.00
MI / mo$174.57$174.57$49.50
HOA / mo$55.00$55.00$55.00
Total monthly$1,484.31$1,731.90$2,031.07
Cash to close$60,513$27,500$27,500