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$260,499$260,499$382,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$122,001$0
Funding fee$0$0$0
Note rate2.830%2.830%7.400%
Blended rate3.680%5.058%7.640%
1st payment$1,238.23$1,238.23$2,648.35
2nd payment$0.00$813.34$0.00
Taxes / mo$346.58$346.58$346.58
Insurance / mo$150.00$150.00$150.00
MI / mo$212.63$212.63$76.50
HOA / mo$59.00$59.00$59.00
Total monthly$2,006.45$2,819.79$3,280.44
Cash to close$164,501$42,500$42,500