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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$180,196$180,196$220,500
Remaining term (yrs)25.025.030.0
Secondary amount$0$40,304$0
Funding fee$0$0$0
Note rate3.14%3.14%7.11%
Blended rate3.99%4.906%7.35%
1st payment$863.90$863.90$1,483.32
2nd payment$0.00$302.28$0.00
Taxes / mo$236.50$236.50$236.50
Insurance / mo$150.00$150.00$150.00
MI / mo$142.58$142.58$44.10
HOA / mo$300.00$300.00$300.00
Total monthly$1,692.98$1,995.26$2,213.92
Cash to close$64,804$24,500$24,500