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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$217,937$217,937$382,500
Remaining term (yrs)23.923.930.0
Secondary amount$0$164,563$0
Funding fee$0$0$0
Note rate2.94%2.94%7.18%
Blended rate3.79%5.601%7.42%
1st payment$1,055.73$1,055.73$2,591.19
2nd payment$0.00$1,097.08$0.00
Taxes / mo$78.83$78.83$78.83
Insurance / mo$150.00$150.00$150.00
MI / mo$178.74$178.74$76.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,463.30$2,560.39$2,896.52
Cash to close$207,063$42,500$42,500