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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$245,926$245,926$341,910
Remaining term (yrs)23.923.930.0
Secondary amount$0$95,984$0
Funding fee$0$0$0
Note rate2.94%2.94%7.18%
Blended rate3.79%5.253%7.42%
1st payment$1,191.31$1,191.31$2,316.22
2nd payment$0.00$719.88$0.00
Taxes / mo$118.67$118.67$118.67
Insurance / mo$150.00$150.00$150.00
MI / mo$201.70$201.70$68.38
HOA / mo$94.00$94.00$94.00
Total monthly$1,755.67$2,475.55$2,747.27
Cash to close$133,974$37,990$37,990