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$289,371$289,371$323,100
Remaining term (yrs)25.225.230.0
Secondary amount$0$33,729$0
Funding fee$0$0$0
Note rate3.100%3.100%7.400%
Blended rate3.950%4.477%7.640%
1st payment$1,375.24$1,375.24$2,237.08
2nd payment$0.00$252.97$0.00
Taxes / mo$65.92$65.92$65.92
Insurance / mo$150.00$150.00$150.00
MI / mo$228.13$228.13$64.62
HOA / mo$0.00$0.00$0.00
Total monthly$1,819.29$2,072.25$2,517.62
Cash to close$69,629$35,900$35,900