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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$281,725$281,725$360,000
Remaining term (yrs)23.223.230.0
Secondary amount$0$78,275$0
Funding fee$0$0$0
Note rate3.73%3.73%7.18%
Blended rate4.58%5.541%7.42%
1st payment$1,508.20$1,508.20$2,438.77
2nd payment$0.00$587.06$0.00
Taxes / mo$481.08$481.08$481.08
Insurance / mo$150.00$150.00$150.00
MI / mo$231.25$231.25$72.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,370.53$2,957.59$3,141.85
Cash to close$118,275$40,000$40,000