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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$235,048$235,048$288,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$52,952$0
Funding fee$0$0$0
Note rate2.87%2.87%7.11%
Blended rate3.72%4.691%7.35%
1st payment$1,098.80$1,098.80$1,937.39
2nd payment$0.00$397.14$0.00
Taxes / mo$340.50$340.50$340.50
Insurance / mo$150.00$150.00$150.00
MI / mo$187.72$187.72$57.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,777.01$2,174.15$2,485.49
Cash to close$84,952$32,000$32,000