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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$279,903$279,903$404,910
Remaining term (yrs)24.624.630.0
Secondary amount$0$125,007$0
Funding fee$0$0$0
Note rate2.970%2.970%7.320%
Blended rate3.820%5.110%7.560%
1st payment$1,331.99$1,331.99$2,781.45
2nd payment$0.00$833.38$0.00
Taxes / mo$73.50$73.50$73.50
Insurance / mo$150.00$150.00$150.00
MI / mo$224.65$224.65$80.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,780.13$2,613.52$3,085.93
Cash to close$169,997$44,990$44,990