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$221,707$221,707$517,500
Remaining term (yrs)24.324.330.0
Secondary amount$0$295,793$0
Funding fee$0$0$0
Note rate2.810%2.810%7.400%
Blended rate3.660%5.998%7.640%
1st payment$1,046.57$1,046.57$3,583.07
2nd payment$0.00$1,910.33$0.00
Taxes / mo$479.17$479.17$479.17
Insurance / mo$166.67$166.67$166.67
MI / mo$180.18$180.18$103.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,872.58$3,782.91$4,332.40
Cash to close$353,293$57,500$57,500