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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$219,862$219,862$315,000
Remaining term (yrs)24.524.530.0
Secondary amount$0$95,138$0
Funding fee$0$0$0
Note rate3.05%3.05%7.18%
Blended rate3.9%5.44%7.42%
1st payment$1,060.20$1,060.20$2,133.92
2nd payment$0.00$713.54$0.00
Taxes / mo$118.42$118.42$118.42
Insurance / mo$150.00$150.00$150.00
MI / mo$176.99$176.99$63.00
HOA / mo$49.00$49.00$49.00
Total monthly$1,554.61$2,268.14$2,514.34
Cash to close$130,138$35,000$35,000