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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$302,495$302,495$477,000
Remaining term (yrs)23.923.930.0
Secondary amount$0$174,505$0
Funding fee$0$0$0
Note rate3.03%3.03%7.18%
Blended rate3.88%5.387%7.42%
1st payment$1,479.38$1,479.38$3,231.36
2nd payment$0.00$1,163.37$0.00
Taxes / mo$451.55$451.55$451.55
Insurance / mo$166.67$166.67$166.67
MI / mo$247.60$247.60$95.40
HOA / mo$0.00$0.00$0.00
Total monthly$2,345.20$3,508.56$3,944.98
Cash to close$227,505$53,000$53,000