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$223,781$223,781$342,000
Remaining term (yrs)25.025.030.0
Secondary amount$0$118,219$0
Funding fee$0$0$0
Note rate2.880%2.880%7.400%
Blended rate3.730%5.206%7.640%
1st payment$1,042.55$1,042.55$2,367.94
2nd payment$0.00$788.12$0.00
Taxes / mo$135.83$135.83$135.83
Insurance / mo$150.00$150.00$150.00
MI / mo$177.88$177.88$68.40
HOA / mo$58.92$58.92$58.92
Total monthly$1,565.17$2,353.30$2,781.09
Cash to close$156,219$38,000$38,000