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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$248,977$248,977$494,100
Remaining term (yrs)22.422.430.0
Secondary amount$0$245,123$0
Funding fee$0$0$0
Note rate4.370%4.370%7.320%
Blended rate5.220%6.475%7.560%
1st payment$1,447.01$1,447.01$3,394.12
2nd payment$0.00$1,583.09$0.00
Taxes / mo$186.00$186.00$186.00
Insurance / mo$166.67$166.67$166.67
MI / mo$205.41$205.41$98.82
HOA / mo$37.00$37.00$37.00
Total monthly$2,042.08$3,625.17$3,882.61
Cash to close$300,023$54,900$54,900