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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$235,232$235,232$265,500
Remaining term (yrs)24.524.530.0
Secondary amount$0$30,268$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.269%7.42%
1st payment$1,105.17$1,105.17$1,798.59
2nd payment$0.00$227.01$0.00
Taxes / mo$344.55$344.55$344.55
Insurance / mo$150.00$150.00$150.00
MI / mo$190.27$190.27$53.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,790.00$2,017.00$2,346.24
Cash to close$59,768$29,500$29,500