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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$227,170$227,170$359,999
Remaining term (yrs)23.723.730.0
Secondary amount$0$132,829$0
Funding fee$0$0$0
Note rate3.15%3.15%7.11%
Blended rate4%5.476%7.35%
1st payment$1,130.42$1,130.42$2,421.74
2nd payment$0.00$885.53$0.00
Taxes / mo$323.92$323.92$323.92
Insurance / mo$150.00$150.00$150.00
MI / mo$186.33$186.33$72.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,790.66$2,676.19$2,967.65
Cash to close$172,829$40,000$40,000