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$308,549$308,549$764,910
Remaining term (yrs)25.125.130.0
Secondary amount$0$456,361$0
Funding fee$0$0$0
Note rate3.140%3.140%7.400%
Blended rate3.990%6.233%7.640%
1st payment$1,476.06$1,476.06$5,296.08
2nd payment$0.00$2,947.33$0.00
Taxes / mo$708.25$708.25$708.25
Insurance / mo$216.67$216.67$216.67
MI / mo$243.61$243.61$152.98
HOA / mo$0.00$0.00$0.00
Total monthly$2,644.58$5,591.91$6,373.98
Cash to close$541,351$84,990$84,990