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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$338,406$338,406$360,000
Remaining term (yrs)25.325.330.0
Secondary amount$0$41,594$0
Funding fee$0$0$0
Note rate3.55%3.55%7.11%
Blended rate4.4%5.218%7.35%
1st payment$1,685.89$1,685.89$2,421.74
2nd payment$0.00$411.61$0.00
Taxes / mo$451.67$451.67$451.67
Insurance / mo$150.00$150.00$150.00
MI / mo$264.29$264.29$72.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,551.85$2,963.46$3,095.41
Cash to close$61,594$20,000$40,000