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$306,871$306,871$922,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$615,629$0
Funding fee$0$0$0
Note rate3.020%3.020%7.400%
Blended rate3.870%6.459%7.640%
1st payment$1,461.68$1,461.68$6,387.20
2nd payment$0.00$3,975.94$0.00
Taxes / mo$231.17$231.17$231.17
Insurance / mo$216.67$216.67$216.67
MI / mo$244.95$244.95$184.50
HOA / mo$175.00$175.00$175.00
Total monthly$2,329.46$6,305.40$7,194.54
Cash to close$718,129$102,500$102,500