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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$7,284$7,284$306,000
Remaining term (yrs)23.823.830.0
Secondary amount$0$298,716$0
Funding fee$0$0$0
Note rate2.9%2.9%7.18%
Blended rate3.75%7.655%7.42%
1st payment$35.22$35.22$2,072.95
2nd payment$0.00$1,929.21$0.00
Taxes / mo$256.00$256.00$256.00
Insurance / mo$150.00$150.00$150.00
MI / mo$5.87$5.87$61.20
HOA / mo$0.00$0.00$0.00
Total monthly$447.09$2,376.29$2,540.15
Cash to close$332,716$34,000$34,000