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$276,462$276,462$323,910
Remaining term (yrs)24.824.830.0
Secondary amount$0$47,448$0
Funding fee$0$0$0
Note rate2.900%2.900%7.400%
Blended rate3.750%4.519%7.640%
1st payment$1,299.64$1,299.64$2,242.69
2nd payment$0.00$355.86$0.00
Taxes / mo$78.17$78.17$78.17
Insurance / mo$150.00$150.00$150.00
MI / mo$221.17$221.17$64.78
HOA / mo$0.00$0.00$0.00
Total monthly$1,748.97$2,104.83$2,535.64
Cash to close$83,438$35,990$35,990