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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$255,174$255,174$292,500
Remaining term (yrs)24.424.430.0
Secondary amount$0$37,326$0
Funding fee$0$0$0
Note rate2.97%2.97%7.18%
Blended rate3.82%4.481%7.42%
1st payment$1,222.71$1,222.71$1,981.50
2nd payment$0.00$279.95$0.00
Taxes / mo$35.75$35.75$35.75
Insurance / mo$150.00$150.00$150.00
MI / mo$206.22$206.22$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,614.67$1,894.62$2,225.75
Cash to close$69,826$32,500$32,500