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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$270,854$270,854$337,410
Remaining term (yrs)25.125.130.0
Secondary amount$0$66,556$0
Funding fee$0$0$0
Note rate2.98%2.98%7.18%
Blended rate3.83%4.85%7.42%
1st payment$1,275.89$1,275.89$2,285.73
2nd payment$0.00$499.17$0.00
Taxes / mo$247.67$247.67$247.67
Insurance / mo$150.00$150.00$150.00
MI / mo$214.91$214.91$67.48
HOA / mo$0.00$0.00$0.00
Total monthly$1,888.47$2,387.64$2,750.88
Cash to close$104,046$37,490$37,490