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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$279,264$279,264$404,910
Remaining term (yrs)24.624.630.0
Secondary amount$0$125,646$0
Funding fee$0$0$0
Note rate2.97%2.97%7.18%
Blended rate3.82%5.117%7.42%
1st payment$1,331.99$1,331.99$2,743.00
2nd payment$0.00$837.64$0.00
Taxes / mo$73.50$73.50$73.50
Insurance / mo$150.00$150.00$150.00
MI / mo$224.65$224.65$80.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,780.13$2,617.78$3,047.48
Cash to close$170,636$44,990$44,990