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$223,085$223,085$391,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$168,415$0
Funding fee$0$0$0
Note rate2.770%2.770%7.400%
Blended rate3.620%5.504%7.640%
1st payment$1,046.01$1,046.01$2,710.67
2nd payment$0.00$1,122.77$0.00
Taxes / mo$153.75$153.75$153.75
Insurance / mo$150.00$150.00$150.00
MI / mo$181.02$181.02$78.30
HOA / mo$153.00$153.00$153.00
Total monthly$1,683.79$2,806.55$3,245.72
Cash to close$211,915$43,500$43,500