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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$118,585$118,585$152,910
Remaining term (yrs)23.523.530.0
Secondary amount$0$34,325$0
Funding fee$0$0$0
Note rate3.31%3.31%7.18%
Blended rate4.16%5.246%7.42%
1st payment$602.79$602.79$1,035.87
2nd payment$0.00$257.43$0.00
Taxes / mo$148.02$148.02$148.02
Insurance / mo$150.00$150.00$150.00
MI / mo$97.37$97.37$30.58
HOA / mo$614.00$614.00$614.00
Total monthly$1,612.18$1,869.61$1,978.47
Cash to close$51,315$16,990$16,990