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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$216,785$216,785$373,500
Remaining term (yrs)23.823.830.0
Secondary amount$0$156,715$0
Funding fee$0$0$0
Note rate3.16%3.16%7.18%
Blended rate4.01%5.684%7.42%
1st payment$1,077.34$1,077.34$2,530.22
2nd payment$0.00$1,044.77$0.00
Taxes / mo$447.75$447.75$447.75
Insurance / mo$150.00$150.00$150.00
MI / mo$177.35$177.35$74.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,852.45$2,897.22$3,202.67
Cash to close$198,215$41,500$41,500