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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$254,900$254,900$269,910
Remaining term (yrs)24.124.130.0
Secondary amount$0$30,005$0
Funding fee$0$0$0
Note rate2.81%2.81%7.18%
Blended rate3.66%4.525%7.42%
1st payment$1,211.92$1,211.92$1,828.46
2nd payment$0.00$296.93$0.00
Taxes / mo$427.50$427.50$427.50
Insurance / mo$150.00$150.00$150.00
MI / mo$208.65$208.65$53.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,998.07$2,295.00$2,459.95
Cash to close$45,000$14,995$29,990