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$278,991
Remaining term (yrs)——30.0
Secondary amount$0$278,991$0
Funding fee$0$0$0
Note rate3.500%3.500%7.400%
Blended rate4.350%7.750%7.640%
1st payment$0.00$0.00$1,931.68
2nd payment$0.00$1,801.82$0.00
Taxes / mo$187.50$187.50$187.50
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$55.80
HOA / mo$170.00$170.00$170.00
Total monthly$507.50$2,309.32$2,494.98
Cash to close$309,990$30,999$30,999