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$271,125$271,125$513,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$241,875$0
Funding fee$0$0$0
Note rate2.890%2.890%7.400%
Blended rate3.740%5.631%7.640%
1st payment$1,297.08$1,297.08$3,551.91
2nd payment$0.00$1,562.11$0.00
Taxes / mo$237.67$237.67$237.67
Insurance / mo$166.67$166.67$166.67
MI / mo$221.02$221.02$102.60
HOA / mo$237.00$237.00$237.00
Total monthly$2,159.44$3,721.55$4,295.84
Cash to close$298,875$57,000$57,000