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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$246,878$246,878$301,500
Remaining term (yrs)24.624.630.0
Secondary amount$0$54,622$0
Funding fee$0$0$0
Note rate2.95%2.95%7.18%
Blended rate3.8%4.742%7.42%
1st payment$1,172.27$1,172.27$2,042.47
2nd payment$0.00$409.67$0.00
Taxes / mo$92.33$92.33$92.33
Insurance / mo$150.00$150.00$150.00
MI / mo$198.22$198.22$60.30
HOA / mo$210.00$210.00$210.00
Total monthly$1,822.82$2,232.49$2,555.10
Cash to close$88,122$33,500$33,500