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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$98,532$98,532$279,000
Remaining term (yrs)23.923.930.0
Secondary amount$0$180,468$0
Funding fee$0$0$0
Note rate2.99%2.99%7.18%
Blended rate3.84%6.531%7.42%
1st payment$479.85$479.85$1,890.04
2nd payment$0.00$1,203.12$0.00
Taxes / mo$19.25$19.25$19.25
Insurance / mo$150.00$150.00$150.00
MI / mo$80.72$80.72$55.80
HOA / mo$0.00$0.00$0.00
Total monthly$729.82$1,932.94$2,115.09
Cash to close$211,468$31,000$31,000