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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$255,844$255,844$423,000
Remaining term (yrs)22.822.830.0
Secondary amount$0$167,156$0
Funding fee$0$0$0
Note rate3.75%3.75%7.18%
Blended rate4.6%5.944%7.42%
1st payment$1,388.03$1,388.03$2,865.55
2nd payment$0.00$1,114.37$0.00
Taxes / mo$162.00$162.00$162.00
Insurance / mo$166.67$166.67$166.67
MI / mo$212.30$212.30$84.60
HOA / mo$60.00$60.00$60.00
Total monthly$1,989.00$3,103.37$3,338.82
Cash to close$214,156$47,000$47,000