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$262,592$262,592$333,000
Remaining term (yrs)25.025.030.0
Secondary amount$0$70,408$0
Funding fee$0$0$0
Note rate2.900%2.900%7.400%
Blended rate3.750%4.860%7.640%
1st payment$1,226.07$1,226.07$2,305.62
2nd payment$0.00$528.06$0.00
Taxes / mo$125.83$125.83$125.83
Insurance / mo$150.00$150.00$150.00
MI / mo$208.65$208.65$66.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,710.56$2,238.61$2,648.06
Cash to close$107,408$37,000$37,000