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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$218,034$218,034$375,300
Remaining term (yrs)23.923.930.0
Secondary amount$0$157,266$0
Funding fee$0$0$0
Note rate2.96%2.96%7.18%
Blended rate3.81%5.566%7.42%
1st payment$1,058.44$1,058.44$2,542.41
2nd payment$0.00$1,048.44$0.00
Taxes / mo$78.83$78.83$78.83
Insurance / mo$150.00$150.00$150.00
MI / mo$178.74$178.74$75.06
HOA / mo$0.00$0.00$0.00
Total monthly$1,466.01$2,514.45$2,846.31
Cash to close$198,966$41,700$41,700