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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$158,820$158,820$404,100
Remaining term (yrs)21.921.930.0
Secondary amount$0$245,280$0
Funding fee$0$0$0
Note rate3.310%3.310%7.320%
Blended rate4.160%6.339%7.560%
1st payment$845.60$845.60$2,775.89
2nd payment$0.00$1,584.10$0.00
Taxes / mo$69.00$69.00$69.00
Insurance / mo$150.00$150.00$150.00
MI / mo$131.09$131.09$80.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,195.69$2,779.79$3,075.71
Cash to close$290,180$44,900$44,900