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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$217,177$217,177$270,000
Remaining term (yrs)24.724.730.0
Secondary amount$0$52,823$0
Funding fee$0$0$0
Note rate2.98%2.98%7.18%
Blended rate3.83%4.841%7.42%
1st payment$1,032.27$1,032.27$1,829.07
2nd payment$0.00$396.17$0.00
Taxes / mo$340.67$340.67$340.67
Insurance / mo$150.00$150.00$150.00
MI / mo$173.88$173.88$54.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,696.82$2,092.98$2,373.74
Cash to close$82,823$30,000$30,000