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$311,888$311,888$404,910
Remaining term (yrs)25.025.030.0
Secondary amount$0$93,022$0
Funding fee$0$0$0
Note rate2.840%2.840%7.400%
Blended rate3.690%4.910%7.640%
1st payment$1,449.87$1,449.87$2,803.52
2nd payment$0.00$697.67$0.00
Taxes / mo$522.46$522.46$522.46
Insurance / mo$150.00$150.00$150.00
MI / mo$248.65$248.65$80.98
HOA / mo$0.00$0.00$0.00
Total monthly$2,370.98$3,068.65$3,556.96
Cash to close$138,012$44,990$44,990