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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$197,485$197,485$224,910
Remaining term (yrs)24.624.630.0
Secondary amount$0$27,425$0
Funding fee$0$0$0
Note rate2.95%2.95%7.11%
Blended rate3.8%4.434%7.35%
1st payment$937.73$937.73$1,512.98
2nd payment$0.00$205.69$0.00
Taxes / mo$312.83$312.83$312.83
Insurance / mo$150.00$150.00$150.00
MI / mo$158.56$158.56$44.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,559.13$1,764.82$2,020.80
Cash to close$52,415$24,990$24,990