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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$120,924$120,924$306,000
Remaining term (yrs)18.918.930.0
Secondary amount$0$185,076$0
Funding fee$0$0$0
Note rate3.25%3.25%7.18%
Blended rate4.1%6.459%7.42%
1st payment$711.56$711.56$2,072.95
2nd payment$0.00$1,233.84$0.00
Taxes / mo$450.00$450.00$450.00
Insurance / mo$150.00$150.00$150.00
MI / mo$115.81$115.81$61.20
HOA / mo$0.00$0.00$0.00
Total monthly$1,427.37$2,661.21$2,734.15
Cash to close$219,076$34,000$34,000