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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$17,149$17,149$319,500
Remaining term (yrs)15.515.530.0
Secondary amount$0$302,351$0
Funding fee$0$0$0
Note rate3.09%3.09%7.18%
Blended rate3.94%7.546%7.42%
1st payment$115.66$115.66$2,164.40
2nd payment$0.00$1,952.69$0.00
Taxes / mo$144.92$144.92$144.92
Insurance / mo$150.00$150.00$150.00
MI / mo$14.65$14.65$63.90
HOA / mo$0.00$0.00$0.00
Total monthly$425.23$2,377.92$2,523.22
Cash to close$337,851$35,500$35,500