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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$18,608$18,608$337,500
Remaining term (yrs)1.51.530.0
Secondary amount$0$318,892$0
Funding fee$0$0$0
Note rate3%3%7.18%
Blended rate3.85%7.535%7.42%
1st payment$1,004.04$1,004.04$2,286.34
2nd payment$0.00$2,059.51$0.00
Taxes / mo$307.17$307.17$307.17
Insurance / mo$150.00$150.00$150.00
MI / mo$102.98$102.98$67.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,564.19$3,623.70$2,811.01
Cash to close$356,392$37,500$37,500