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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$219,520$219,520$243,000
Remaining term (yrs)25.125.130.0
Secondary amount$0$36,980$0
Funding fee$0$0$0
Note rate3.09%3.09%7.18%
Blended rate3.94%5.084%7.42%
1st payment$1,046.68$1,046.68$1,646.17
2nd payment$0.00$365.95$0.00
Taxes / mo$224.83$224.83$224.83
Insurance / mo$150.00$150.00$150.00
MI / mo$173.84$173.84$48.60
HOA / mo$254.00$254.00$254.00
Total monthly$1,849.35$2,215.30$2,323.60
Cash to close$50,480$13,500$27,000