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$230,955$230,955$260,010
Remaining term (yrs)24.524.530.0
Secondary amount$0$29,055$0
Funding fee$0$0$0
Note rate2.94%2.94%7.11%
Blended rate3.79%4.372%7.35%
1st payment$1,100.52$1,100.52$1,749.10
2nd payment$0.00$217.91$0.00
Taxes / mo$254.83$254.83$254.83
Insurance / mo$150.00$150.00$150.00
MI / mo$186.32$186.32$52.00
HOA / mo$214.00$214.00$214.00
Total monthly$1,905.68$2,123.59$2,419.94
Cash to close$57,945$28,890$28,890