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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$86,640$86,640$346,500
Remaining term (yrs)16.516.530.0
Secondary amount$0$259,860$0
Funding fee$0$0$0
Note rate3.12%3.12%7.18%
Blended rate3.97%6.805%7.42%
1st payment$558.23$558.23$2,347.31
2nd payment$0.00$1,678.26$0.00
Taxes / mo$227.50$227.50$227.50
Insurance / mo$150.00$150.00$150.00
MI / mo$92.36$92.36$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,028.10$2,706.36$2,794.11
Cash to close$298,360$38,500$38,500