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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$288,096$288,096$314,910
Remaining term (yrs)25.025.030.0
Secondary amount$0$26,814$0
Funding fee$0$0$0
Note rate2.88%2.88%7.18%
Blended rate3.73%4.179%7.42%
1st payment$1,345.21$1,345.21$2,133.31
2nd payment$0.00$201.11$0.00
Taxes / mo$132.42$132.42$132.42
Insurance / mo$150.00$150.00$150.00
MI / mo$229.52$229.52$62.98
HOA / mo$86.00$86.00$86.00
Total monthly$1,943.14$2,144.25$2,564.71
Cash to close$61,804$34,990$34,990