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$179,786$179,786$297,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$117,214$0
Funding fee$0$0$0
Note rate2.940%2.940%7.400%
Blended rate3.790%5.452%7.640%
1st payment$866.78$866.78$2,056.37
2nd payment$0.00$781.43$0.00
Taxes / mo$229.13$229.13$229.13
Insurance / mo$150.00$150.00$150.00
MI / mo$146.75$146.75$59.40
HOA / mo$173.67$173.67$173.67
Total monthly$1,566.34$2,347.76$2,668.57
Cash to close$150,214$33,000$33,000