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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$224,620$224,620$262,800
Remaining term (yrs)23.523.530.0
Secondary amount$0$38,180$0
Funding fee$0$0$0
Note rate3.36%3.36%7.11%
Blended rate4.21%4.906%7.35%
1st payment$1,150.34$1,150.34$1,767.87
2nd payment$0.00$286.35$0.00
Taxes / mo$214.67$214.67$214.67
Insurance / mo$150.00$150.00$150.00
MI / mo$184.66$184.66$52.56
HOA / mo$25.00$25.00$25.00
Total monthly$1,724.66$2,011.01$2,210.10
Cash to close$67,380$29,200$29,200