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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$212,300$212,300$269,999
Remaining term (yrs)24.424.430.0
Secondary amount$0$57,699$0
Funding fee$0$0$0
Note rate2.970%2.970%7.320%
Blended rate3.820%4.927%7.560%
1st payment$1,014.93$1,014.93$1,854.71
2nd payment$0.00$432.74$0.00
Taxes / mo$69.75$69.75$69.75
Insurance / mo$150.00$150.00$150.00
MI / mo$171.17$171.17$54.00
HOA / mo$49.00$49.00$49.00
Total monthly$1,454.85$1,887.59$2,177.46
Cash to close$87,699$30,000$30,000