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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$255,992$255,992$440,910
Remaining term (yrs)24.224.230.0
Secondary amount$0$184,918$0
Funding fee$0$0$0
Note rate2.375%2.375%7.400%
Blended rate3.225%5.228%7.640%
1st payment$1,155.12$1,155.12$3,052.77
2nd payment$0.00$1,232.79$0.00
Taxes / mo$120.17$120.17$120.17
Insurance / mo$0.00$0.00$0.00
MI / mo$210.52$210.52$88.18
HOA / mo$60.00$60.00$60.00
Total monthly$1,545.81$2,778.60$3,321.12
Cash to close$233,908$48,990$48,990