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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$220,254$220,254$292,500
Remaining term (yrs)23.923.930.0
Secondary amount$0$72,246$0
Funding fee$0$0$0
Note rate2.91%2.91%7.18%
Blended rate3.76%5.054%7.42%
1st payment$1,063.55$1,063.55$1,981.50
2nd payment$0.00$541.85$0.00
Taxes / mo$646.33$646.33$646.33
Insurance / mo$150.00$150.00$150.00
MI / mo$180.76$180.76$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,040.65$2,582.50$2,836.33
Cash to close$104,746$32,500$32,500