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$0$0$308,700
Remaining term (yrs)21.821.830.0
Secondary amount$0$308,700$0
Funding fee$0$0$0
Note rate3.000%3.000%7.400%
Blended rate3.850%7.750%7.640%
1st payment$0.00$0.00$2,137.38
2nd payment$0.00$1,993.69$0.00
Taxes / mo$285.83$285.83$285.83
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$61.74
HOA / mo$424.00$424.00$424.00
Total monthly$859.83$2,853.52$3,058.95
Cash to close$343,000$34,300$34,300