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$247,412$247,412$373,500
Remaining term (yrs)24.924.930.0
Secondary amount$0$126,088$0
Funding fee$0$0$0
Note rate2.900%2.900%7.400%
Blended rate3.750%5.185%7.640%
1st payment$1,160.43$1,160.43$2,586.04
2nd payment$0.00$840.59$0.00
Taxes / mo$410.50$410.50$410.50
Insurance / mo$150.00$150.00$150.00
MI / mo$197.48$197.48$74.70
HOA / mo$12.50$12.50$12.50
Total monthly$1,930.91$2,771.49$3,233.74
Cash to close$167,588$41,500$41,500