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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$151,976$151,976$315,000
Remaining term (yrs)20.020.030.0
Secondary amount$0$163,024$0
Funding fee$0$0$0
Note rate3.42%3.42%7.18%
Blended rate4.27%6.2%7.42%
1st payment$872.63$872.63$2,133.92
2nd payment$0.00$1,086.83$0.00
Taxes / mo$335.00$335.00$335.00
Insurance / mo$150.00$150.00$150.00
MI / mo$139.03$139.03$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,496.66$2,583.49$2,681.92
Cash to close$198,024$35,000$35,000