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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$206,020$206,020$260,978
Remaining term (yrs)24.424.430.0
Secondary amount$0$54,958$0
Funding fee$0$0$0
Note rate3.05%3.05%7.18%
Blended rate3.9%4.974%7.42%
1st payment$995.72$995.72$1,767.95
2nd payment$0.00$412.18$0.00
Taxes / mo$41.00$41.00$41.00
Insurance / mo$150.00$150.00$150.00
MI / mo$166.23$166.23$52.20
HOA / mo$354.00$354.00$354.00
Total monthly$1,706.95$2,119.13$2,365.15
Cash to close$83,955$28,998$28,998