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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$199,372$199,372$377,910
Remaining term (yrs)18.218.230.0
Secondary amount$0$178,538$0
Funding fee$0$0$0
Note rate2.71%2.71%7.18%
Blended rate3.56%5.658%7.42%
1st payment$1,150.93$1,150.93$2,560.09
2nd payment$0.00$1,190.25$0.00
Taxes / mo$479.17$479.17$479.17
Insurance / mo$150.00$150.00$150.00
MI / mo$172.47$172.47$75.58
HOA / mo$0.00$0.00$0.00
Total monthly$1,952.57$3,142.82$3,264.84
Cash to close$220,528$41,990$41,990