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$296,030$296,030$449,935
Remaining term (yrs)24.824.830.0
Secondary amount$0$153,905$0
Funding fee$0$0$0
Note rate2.980%2.980%7.400%
Blended rate3.830%5.256%7.640%
1st payment$1,403.89$1,403.89$3,115.26
2nd payment$0.00$1,026.03$0.00
Taxes / mo$72.75$72.75$72.75
Insurance / mo$166.67$166.67$166.67
MI / mo$236.47$236.47$89.99
HOA / mo$0.00$0.00$0.00
Total monthly$1,879.78$2,905.81$3,444.66
Cash to close$203,898$49,993$49,993