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$240,889$240,889$530,100
Remaining term (yrs)24.524.530.0
Secondary amount$0$289,211$0
Funding fee$0$0$0
Note rate3.080%3.080%7.400%
Blended rate3.930%6.014%7.640%
1st payment$1,162.72$1,162.72$3,670.31
2nd payment$0.00$1,867.82$0.00
Taxes / mo$281.08$281.08$281.08
Insurance / mo$166.67$166.67$166.67
MI / mo$193.36$193.36$106.02
HOA / mo$50.00$50.00$50.00
Total monthly$1,853.84$3,721.66$4,274.08
Cash to close$348,111$58,900$58,900