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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$221,368$221,368$261,000
Remaining term (yrs)24.524.530.0
Secondary amount$0$39,632$0
Funding fee$0$0$0
Note rate3.180%3.180%7.400%
Blended rate4.030%4.785%7.640%
1st payment$1,080.08$1,080.08$1,807.11
2nd payment$0.00$297.24$0.00
Taxes / mo$91.33$91.33$91.33
Insurance / mo$150.00$150.00$150.00
MI / mo$177.35$177.35$52.20
HOA / mo$0.00$0.00$0.00
Total monthly$1,498.76$1,796.00$2,100.64
Cash to close$68,632$29,000$29,000