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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$207,051$207,051$269,910
Remaining term (yrs)23.723.730.0
Secondary amount$0$62,859$0
Funding fee$0$0$0
Note rate3%3%7.18%
Blended rate3.85%5.049%7.42%
1st payment$1,014.22$1,014.22$1,828.46
2nd payment$0.00$471.44$0.00
Taxes / mo$368.75$368.75$368.75
Insurance / mo$150.00$150.00$150.00
MI / mo$170.40$170.40$53.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,703.37$2,174.81$2,401.20
Cash to close$92,849$29,990$29,990