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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$148,260$148,260$315,000
Remaining term (yrs)25.425.430.0
Secondary amount$0$166,740$0
Funding fee$0$0$0
Note rate3.1%3.1%7.11%
Blended rate3.95%6.094%7.35%
1st payment$701.58$701.58$2,119.03
2nd payment$0.00$1,111.60$0.00
Taxes / mo$307.57$307.57$307.57
Insurance / mo$150.00$150.00$150.00
MI / mo$116.38$116.38$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,275.53$2,387.13$2,639.60
Cash to close$201,740$35,000$35,000