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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$314,773$314,773$346,050
Remaining term (yrs)25.125.130.0
Secondary amount$0$31,277$0
Funding fee$0$0$0
Note rate2.84%2.84%7.18%
Blended rate3.69%4.17%7.42%
1st payment$1,459.95$1,459.95$2,344.26
2nd payment$0.00$234.58$0.00
Taxes / mo$325.33$325.33$325.33
Insurance / mo$150.00$150.00$150.00
MI / mo$250.38$250.38$69.21
HOA / mo$0.00$0.00$0.00
Total monthly$2,185.67$2,420.25$2,888.81
Cash to close$69,727$38,450$38,450