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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$225,616$225,616$323,910
Remaining term (yrs)24.824.830.0
Secondary amount$0$98,294$0
Funding fee$0$0$0
Note rate2.870%2.870%7.320%
Blended rate3.720%5.322%7.560%
1st payment$1,054.70$1,054.70$2,225.04
2nd payment$0.00$737.21$0.00
Taxes / mo$123.50$123.50$123.50
Insurance / mo$150.00$150.00$150.00
MI / mo$180.18$180.18$64.78
HOA / mo$86.67$86.67$86.67
Total monthly$1,595.06$2,332.26$2,649.99
Cash to close$134,284$35,990$35,990