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$292,239$292,239$668,700
Remaining term (yrs)24.024.030.0
Secondary amount$0$376,461$0
Funding fee$0$0$0
Note rate2.940%2.940%7.400%
Blended rate3.790%6.019%7.640%
1st payment$1,412.29$1,412.29$4,629.94
2nd payment$0.00$2,431.31$0.00
Taxes / mo$882.11$882.11$882.11
Insurance / mo$216.67$216.67$216.67
MI / mo$239.11$239.11$133.74
HOA / mo$0.00$0.00$0.00
Total monthly$2,750.17$5,181.48$5,862.46
Cash to close$450,761$74,300$74,300