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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$251,014$251,014$351,000
Remaining term (yrs)23.523.530.0
Secondary amount$0$99,986$0
Funding fee$0$0$0
Note rate3.33%3.33%7.11%
Blended rate4.18%5.553%7.35%
1st payment$1,278.58$1,278.58$2,361.20
2nd payment$0.00$749.90$0.00
Taxes / mo$431.92$431.92$431.92
Insurance / mo$150.00$150.00$150.00
MI / mo$206.01$206.01$70.20
HOA / mo$258.00$258.00$258.00
Total monthly$2,324.51$3,074.41$3,271.32
Cash to close$138,986$39,000$39,000