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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$237,302$237,302$341,100
Remaining term (yrs)24.824.830.0
Secondary amount$0$103,798$0
Funding fee$0$0$0
Note rate2.78%2.78%7.18%
Blended rate3.63%4.96%7.42%
1st payment$1,100.89$1,100.89$2,310.73
2nd payment$0.00$691.99$0.00
Taxes / mo$420.00$420.00$420.00
Insurance / mo$150.00$150.00$150.00
MI / mo$190.27$190.27$68.22
HOA / mo$0.00$0.00$0.00
Total monthly$1,861.16$2,553.15$2,948.95
Cash to close$141,698$37,900$37,900