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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$315,952$315,952$346,410
Remaining term (yrs)24.924.930.0
Secondary amount$0$30,458$0
Funding fee$0$0$0
Note rate2.84%2.84%7.18%
Blended rate3.69%4.157%7.42%
1st payment$1,472.12$1,472.12$2,346.70
2nd payment$0.00$228.43$0.00
Taxes / mo$617.02$617.02$617.02
Insurance / mo$150.00$150.00$150.00
MI / mo$252.47$252.47$69.28
HOA / mo$0.00$0.00$0.00
Total monthly$2,491.61$2,720.04$3,183.00
Cash to close$68,948$38,490$38,490