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$307,368$307,368$400,410
Remaining term (yrs)25.025.030.0
Secondary amount$0$93,042$0
Funding fee$0$0$0
Note rate2.840%2.840%7.400%
Blended rate3.690%4.924%7.640%
1st payment$1,428.86$1,428.86$2,772.36
2nd payment$0.00$697.81$0.00
Taxes / mo$85.75$85.75$85.75
Insurance / mo$150.00$150.00$150.00
MI / mo$245.05$245.05$80.08
HOA / mo$65.00$65.00$65.00
Total monthly$1,974.65$2,672.47$3,153.19
Cash to close$137,532$44,490$44,490