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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$98,890$98,890$270,000
Remaining term (yrs)20.120.130.0
Secondary amount$0$171,110$0
Funding fee$0$0$0
Note rate3.375%3.375%7.18%
Blended rate4.225%6.617%7.42%
1st payment$562.29$562.29$1,829.07
2nd payment$0.00$1,140.73$0.00
Taxes / mo$263.58$263.58$263.58
Insurance / mo$150.00$150.00$150.00
MI / mo$90.09$90.09$54.00
HOA / mo$400.00$400.00$400.00
Total monthly$1,465.96$2,606.69$2,696.66
Cash to close$201,110$30,000$30,000