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$228,885$228,885$269,910
Remaining term (yrs)26.026.030.0
Secondary amount$0$41,025$0
Funding fee$0$0$0
Note rate5.220%5.220%7.400%
Blended rate6.070%6.515%7.640%
1st payment$1,340.08$1,340.08$1,868.80
2nd payment$0.00$307.69$0.00
Taxes / mo$97.71$97.71$97.71
Insurance / mo$150.00$150.00$150.00
MI / mo$172.48$172.48$53.98
HOA / mo$79.33$79.33$79.33
Total monthly$1,839.60$2,147.29$2,249.83
Cash to close$71,015$29,990$29,990