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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$262,197$262,197$346,500
Remaining term (yrs)24.824.830.0
Secondary amount$0$84,303$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.005%7.42%
1st payment$1,228.52$1,228.52$2,347.31
2nd payment$0.00$632.27$0.00
Taxes / mo$481.67$481.67$481.67
Insurance / mo$150.00$150.00$150.00
MI / mo$209.88$209.88$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$2,070.06$2,702.33$3,048.28
Cash to close$122,803$38,500$38,500