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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$296,530$296,530$360,000
Remaining term (yrs)25.125.130.0
Secondary amount$0$63,470$0
Funding fee$0$0$0
Note rate3.11%3.11%7.18%
Blended rate3.96%4.849%7.42%
1st payment$1,413.88$1,413.88$2,438.77
2nd payment$0.00$476.03$0.00
Taxes / mo$126.83$126.83$126.83
Insurance / mo$150.00$150.00$150.00
MI / mo$234.24$234.24$72.00
HOA / mo$106.00$106.00$106.00
Total monthly$2,030.95$2,506.98$2,893.60
Cash to close$103,470$40,000$40,000