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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$274,275$274,275$378,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$103,725$0
Funding fee$0$0$0
Note rate2.86%2.86%7.18%
Blended rate3.71%4.887%7.42%
1st payment$1,280.76$1,280.76$2,560.70
2nd payment$0.00$691.50$0.00
Taxes / mo$245.75$245.75$245.75
Insurance / mo$150.00$150.00$150.00
MI / mo$219.08$219.08$75.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,895.59$2,587.09$3,032.05
Cash to close$145,725$42,000$42,000