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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$321,007$321,007$360,000
Remaining term (yrs)25.125.130.0
Secondary amount$0$38,993$0
Funding fee$0$0$0
Note rate3.02%3.02%7.18%
Blended rate3.87%4.426%7.42%
1st payment$1,518.83$1,518.83$2,438.77
2nd payment$0.00$292.44$0.00
Taxes / mo$397.83$397.83$397.83
Insurance / mo$150.00$150.00$150.00
MI / mo$254.53$254.53$72.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,321.19$2,613.63$3,058.60
Cash to close$78,993$40,000$40,000