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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$343,717$343,717$350,910
Remaining term (yrs)25.025.030.0
Secondary amount$0$26,688$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.308%7.42%
1st payment$1,603.15$1,603.15$2,377.19
2nd payment$0.00$264.10$0.00
Taxes / mo$570.00$570.00$570.00
Insurance / mo$150.00$150.00$150.00
MI / mo$273.88$273.88$70.18
HOA / mo$500.00$500.00$500.00
Total monthly$3,097.03$3,361.12$3,667.37
Cash to close$46,183$19,495$38,990