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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$300,860$300,860$382,500
Remaining term (yrs)23.623.630.0
Secondary amount$0$81,640$0
Funding fee$0$0$0
Note rate3.23%3.23%7.11%
Blended rate4.08%5.13%7.35%
1st payment$1,513.18$1,513.18$2,573.10
2nd payment$0.00$612.30$0.00
Taxes / mo$389.50$389.50$389.50
Insurance / mo$150.00$150.00$150.00
MI / mo$246.90$246.90$76.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,299.58$2,911.88$3,189.10
Cash to close$124,140$42,500$42,500