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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$248,595$248,595$427,500
Remaining term (yrs)23.423.430.0
Secondary amount$0$178,905$0
Funding fee$0$0$0
Note rate3.47%3.47%7.11%
Blended rate4.32%5.86%7.35%
1st payment$1,290.49$1,290.49$2,875.82
2nd payment$0.00$1,192.70$0.00
Taxes / mo$490.17$490.17$490.17
Insurance / mo$166.67$166.67$166.67
MI / mo$204.33$204.33$85.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,151.65$3,344.35$3,618.15
Cash to close$226,405$47,500$47,500