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$257,776$257,776$378,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$120,224$0
Funding fee$0$0$0
Note rate2.870%2.870%7.400%
Blended rate3.720%5.081%7.640%
1st payment$1,233.51$1,233.51$2,617.20
2nd payment$0.00$801.49$0.00
Taxes / mo$329.17$329.17$329.17
Insurance / mo$150.00$150.00$150.00
MI / mo$210.73$210.73$75.60
HOA / mo$81.00$81.00$81.00
Total monthly$2,004.41$2,805.90$3,252.96
Cash to close$162,224$42,000$42,000