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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$90,254$90,254$306,000
Remaining term (yrs)16.016.030.0
Secondary amount$0$215,746$0
Funding fee$0$0$0
Note rate3.25%3.25%7.18%
Blended rate4.1%6.673%7.42%
1st payment$601.08$601.08$2,072.95
2nd payment$0.00$1,393.36$0.00
Taxes / mo$154.83$154.83$154.83
Insurance / mo$150.00$150.00$150.00
MI / mo$97.83$97.83$61.20
HOA / mo$60.67$60.67$60.67
Total monthly$1,064.41$2,457.77$2,499.65
Cash to close$249,746$34,000$34,000