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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$246,794$246,794$332,910
Remaining term (yrs)25.525.530.0
Secondary amount$0$86,116$0
Funding fee$0$0$0
Note rate4.17%4.17%7.18%
Blended rate5.02%6.05%7.42%
1st payment$1,306.42$1,306.42$2,255.25
2nd payment$0.00$645.87$0.00
Taxes / mo$488.17$488.17$488.17
Insurance / mo$150.00$150.00$150.00
MI / mo$189.91$189.91$66.58
HOA / mo$0.00$0.00$0.00
Total monthly$2,134.50$2,780.37$2,960.00
Cash to close$123,106$36,990$36,990