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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$214,686$214,686$297,000
Remaining term (yrs)24.224.230.0
Secondary amount$0$82,314$0
Funding fee$0$0$0
Note rate2.710%2.710%7.400%
Blended rate3.560%5.068%7.640%
1st payment$1,004.90$1,004.90$2,056.37
2nd payment$0.00$617.35$0.00
Taxes / mo$62.75$62.75$62.75
Insurance / mo$150.00$150.00$150.00
MI / mo$175.27$175.27$59.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,392.91$2,010.26$2,328.52
Cash to close$115,314$33,000$33,000