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$309,460$309,460$424,800
Remaining term (yrs)24.624.630.0
Secondary amount$0$115,340$0
Funding fee$0$0$0
Note rate2.960%2.960%7.400%
Blended rate3.810%4.948%7.640%
1st payment$1,471.04$1,471.04$2,941.23
2nd payment$0.00$768.93$0.00
Taxes / mo$152.33$152.33$152.33
Insurance / mo$166.67$166.67$166.67
MI / mo$248.42$248.42$84.96
HOA / mo$62.00$62.00$62.00
Total monthly$2,100.46$2,869.39$3,407.19
Cash to close$162,540$47,200$47,200