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$198,931$198,931$238,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$39,569$0
Funding fee$0$0$0
Note rate2.790%2.790%7.400%
Blended rate3.640%4.529%7.640%
1st payment$934.79$934.79$1,651.33
2nd payment$0.00$296.76$0.00
Taxes / mo$44.17$44.17$44.17
Insurance / mo$150.00$150.00$150.00
MI / mo$161.36$161.36$47.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,290.32$1,587.08$1,893.19
Cash to close$66,069$26,500$26,500