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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$315,454$315,454$404,910
Remaining term (yrs)25.225.230.0
Secondary amount$0$89,456$0
Funding fee$0$0$0
Note rate3.100%3.100%7.320%
Blended rate3.950%5.066%7.560%
1st payment$1,499.20$1,499.20$2,781.45
2nd payment$0.00$670.92$0.00
Taxes / mo$264.17$264.17$264.17
Insurance / mo$150.00$150.00$150.00
MI / mo$248.69$248.69$80.98
HOA / mo$129.00$129.00$129.00
Total monthly$2,291.06$2,961.98$3,405.60
Cash to close$134,446$44,990$44,990