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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$227,298$227,298$256,410
Remaining term (yrs)24.924.930.0
Secondary amount$0$29,112$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%4.319%7.42%
1st payment$1,062.57$1,062.57$1,737.01
2nd payment$0.00$218.34$0.00
Taxes / mo$309.17$309.17$309.17
Insurance / mo$150.00$150.00$150.00
MI / mo$181.53$181.53$51.28
HOA / mo$0.00$0.00$0.00
Total monthly$1,703.26$1,921.60$2,247.46
Cash to close$57,602$28,490$28,490