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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$195,221$195,221$404,550
Remaining term (yrs)24.224.230.0
Secondary amount$0$209,329$0
Funding fee$0$0$0
Note rate2.71%2.71%7.18%
Blended rate3.56%5.728%7.42%
1st payment$913.78$913.78$2,740.56
2nd payment$0.00$1,351.92$0.00
Taxes / mo$204.25$204.25$204.25
Insurance / mo$150.00$150.00$150.00
MI / mo$159.38$159.38$80.91
HOA / mo$0.00$0.00$0.00
Total monthly$1,427.41$2,779.33$3,175.72
Cash to close$254,279$44,950$44,950