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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 · VA
Assumable Loan + Second
Assumable · VA
Current Market Conventional
New · Conventional
Loan amount$220,101$220,101$292,500
Remaining term (yrs)23.823.830.0
Secondary amount$0$72,399$0
Funding fee$1,101$1,101$0
Note rate3.02%3.02%7.18%
Blended rate3.02%4.5%7.42%
1st payment$1,077.84$1,077.84$1,981.50
2nd payment$0.00$542.99$0.00
Taxes / mo$105.25$105.25$105.25
Insurance / mo$150.00$150.00$150.00
MI / mo$0.00$0.00$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,333.09$1,876.08$2,295.25
Cash to close$104,899$32,500$32,500