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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$213,237$213,237$229,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$29,013$0
Funding fee$0$0$0
Note rate2.96%2.96%7.18%
Blended rate3.81%4.776%7.42%
1st payment$1,009.04$1,009.04$1,554.71
2nd payment$0.00$287.11$0.00
Taxes / mo$25.00$25.00$25.00
Insurance / mo$150.00$150.00$150.00
MI / mo$170.40$170.40$45.90
HOA / mo$0.00$0.00$0.00
Total monthly$1,354.43$1,641.55$1,775.61
Cash to close$41,763$12,750$25,500