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$283,107$283,107$332,910
Remaining term (yrs)26.026.030.0
Secondary amount$0$49,803$0
Funding fee$0$0$0
Note rate5.220%5.220%7.400%
Blended rate6.070%6.508%7.640%
1st payment$1,657.54$1,657.54$2,305.00
2nd payment$0.00$373.53$0.00
Taxes / mo$180.58$180.58$180.58
Insurance / mo$150.00$150.00$150.00
MI / mo$213.34$213.34$66.58
HOA / mo$100.00$100.00$100.00
Total monthly$2,301.45$2,674.98$2,802.17
Cash to close$86,793$36,990$36,990