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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$137,878$137,878$283,500
Remaining term (yrs)22.922.930.0
Secondary amount$0$145,622$0
Funding fee$0$0$0
Note rate3.490%3.490%7.400%
Blended rate4.340%6.220%7.640%
1st payment$725.57$725.57$1,962.90
2nd payment$0.00$970.81$0.00
Taxes / mo$183.83$183.83$183.83
Insurance / mo$150.00$150.00$150.00
MI / mo$114.60$114.60$56.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,174.00$2,144.81$2,353.43
Cash to close$177,122$31,500$31,500