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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$230,667$230,667$297,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$66,333$0
Funding fee$0$0$0
Note rate2.88%2.88%7.11%
Blended rate3.73%4.907%7.35%
1st payment$1,107.62$1,107.62$1,997.94
2nd payment$0.00$497.50$0.00
Taxes / mo$363.00$363.00$363.00
Insurance / mo$150.00$150.00$150.00
MI / mo$188.98$188.98$59.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,809.60$2,307.10$2,570.34
Cash to close$99,333$33,000$33,000