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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$106,690$106,690$315,000
Remaining term (yrs)19.619.630.0
Secondary amount$0$208,310$0
Funding fee$0$0$0
Note rate3.56%3.56%7.18%
Blended rate4.41%6.619%7.42%
1st payment$627.46$627.46$2,133.92
2nd payment$0.00$1,345.33$0.00
Taxes / mo$93.25$93.25$93.25
Insurance / mo$150.00$150.00$150.00
MI / mo$98.24$98.24$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$968.95$2,314.29$2,440.17
Cash to close$243,310$35,000$35,000