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$0$0$202,500
Remaining term (yrs)23.923.930.0
Secondary amount$0$202,500$0
Funding fee$0$0$0
Note rate3.000%3.000%7.400%
Blended rate3.850%7.750%7.640%
1st payment$0.00$0.00$1,402.07
2nd payment$0.00$1,307.81$0.00
Taxes / mo$275.00$275.00$275.00
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$425.00$1,732.81$1,867.57
Cash to close$225,000$22,500$22,500