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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$220,878$220,878$247,500
Remaining term (yrs)25.125.130.0
Secondary amount$0$26,622$0
Funding fee$0$0$0
Note rate3.09%3.09%7.18%
Blended rate3.94%4.484%7.42%
1st payment$1,053.15$1,053.15$1,676.65
2nd payment$0.00$199.67$0.00
Taxes / mo$65.00$65.00$65.00
Insurance / mo$150.00$150.00$150.00
MI / mo$174.92$174.92$49.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,443.07$1,642.74$1,941.15
Cash to close$54,122$27,500$27,500