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$176,825$176,825$314,910
Remaining term (yrs)23.923.930.0
Secondary amount$0$138,085$0
Funding fee$0$0$0
Note rate2.980%2.980%7.400%
Blended rate3.830%5.659%7.640%
1st payment$860.22$860.22$2,180.37
2nd payment$0.00$920.57$0.00
Taxes / mo$75.50$75.50$75.50
Insurance / mo$150.00$150.00$150.00
MI / mo$144.89$144.89$62.98
HOA / mo$149.00$149.00$149.00
Total monthly$1,379.61$2,300.18$2,617.86
Cash to close$173,075$34,990$34,990