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$215,971$215,971$342,000
Remaining term (yrs)24.724.730.0
Secondary amount$0$126,029$0
Funding fee$0$0$0
Note rate2.960%2.960%7.400%
Blended rate3.810%5.354%7.640%
1st payment$1,024.30$1,024.30$2,367.94
2nd payment$0.00$840.19$0.00
Taxes / mo$103.92$103.92$103.92
Insurance / mo$150.00$150.00$150.00
MI / mo$172.98$172.98$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,451.19$2,291.38$2,690.26
Cash to close$164,029$38,000$38,000