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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$314,770$314,770$394,200
Remaining term (yrs)25.125.130.0
Secondary amount$0$79,430$0
Funding fee$0$0$0
Note rate3.1%3.1%7.18%
Blended rate3.95%4.968%7.42%
1st payment$1,499.20$1,499.20$2,670.45
2nd payment$0.00$595.73$0.00
Taxes / mo$264.17$264.17$264.17
Insurance / mo$150.00$150.00$150.00
MI / mo$248.69$248.69$78.84
HOA / mo$129.00$129.00$129.00
Total monthly$2,291.06$2,886.79$3,292.45
Cash to close$123,230$43,800$43,800