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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$242,104$242,104$355,500
Remaining term (yrs)24.524.530.0
Secondary amount$0$113,396$0
Funding fee$0$0$0
Note rate3.09%3.09%7.18%
Blended rate3.94%5.235%7.42%
1st payment$1,172.49$1,172.49$2,408.28
2nd payment$0.00$755.98$0.00
Taxes / mo$101.67$101.67$101.67
Insurance / mo$150.00$150.00$150.00
MI / mo$194.74$194.74$71.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,618.90$2,374.88$2,731.05
Cash to close$152,896$39,500$39,500