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$273,878$273,878$494,910
Remaining term (yrs)24.424.430.0
Secondary amount$0$221,032$0
Funding fee$0$0$0
Note rate2.700%2.700%7.400%
Blended rate3.550%5.426%7.640%
1st payment$1,274.40$1,274.40$3,426.66
2nd payment$0.00$1,427.50$0.00
Taxes / mo$104.75$104.75$104.75
Insurance / mo$166.67$166.67$166.67
MI / mo$222.56$222.56$98.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,768.38$3,195.88$3,797.06
Cash to close$276,022$54,990$54,990