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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$252,603$252,603$359,100
Remaining term (yrs)23.923.930.0
Secondary amount$0$106,497$0
Funding fee$0$0$0
Note rate2.625%2.625%7.18%
Blended rate3.475%4.817%7.42%
1st payment$1,183.13$1,183.13$2,432.67
2nd payment$0.00$709.98$0.00
Taxes / mo$105.83$105.83$105.83
Insurance / mo$150.00$150.00$150.00
MI / mo$208.65$208.65$71.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,647.61$2,357.59$2,760.32
Cash to close$146,397$39,900$39,900