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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$291,543$291,543$463,500
Remaining term (yrs)23.923.930.0
Secondary amount$0$171,957$0
Funding fee$0$0$0
Note rate2.94%2.94%7.18%
Blended rate3.79%5.352%7.42%
1st payment$1,412.29$1,412.29$3,139.91
2nd payment$0.00$1,146.38$0.00
Taxes / mo$242.42$242.42$242.42
Insurance / mo$166.67$166.67$166.67
MI / mo$239.11$239.11$92.70
HOA / mo$102.00$102.00$102.00
Total monthly$2,162.48$3,308.86$3,743.69
Cash to close$223,457$51,500$51,500