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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$223,596$223,596$270,000
Remaining term (yrs)25.025.030.0
Secondary amount$0$46,404$0
Funding fee$0$0$0
Note rate3.14%3.14%7.11%
Blended rate3.99%4.851%7.35%
1st payment$1,071.98$1,071.98$1,816.31
2nd payment$0.00$348.03$0.00
Taxes / mo$309.83$309.83$309.83
Insurance / mo$150.00$150.00$150.00
MI / mo$176.92$176.92$54.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,708.73$2,056.76$2,330.14
Cash to close$76,404$30,000$30,000