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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$248,579$248,579$369,000
Remaining term (yrs)23.723.730.0
Secondary amount$0$120,421$0
Funding fee$0$0$0
Note rate3.13%3.13%7.18%
Blended rate3.98%5.292%7.42%
1st payment$1,234.37$1,234.37$2,499.73
2nd payment$0.00$802.80$0.00
Taxes / mo$197.08$197.08$197.08
Insurance / mo$150.00$150.00$150.00
MI / mo$203.98$203.98$73.80
HOA / mo$123.00$123.00$123.00
Total monthly$1,908.43$2,711.23$3,043.62
Cash to close$161,421$41,000$41,000