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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$239,993$239,993$270,000
Remaining term (yrs)25.025.030.0
Secondary amount$0$30,007$0
Funding fee$0$0$0
Note rate2.860%2.860%7.400%
Blended rate3.710%4.298%7.640%
1st payment$1,118.12$1,118.12$1,869.43
2nd payment$0.00$225.05$0.00
Taxes / mo$124.00$124.00$124.00
Insurance / mo$150.00$150.00$150.00
MI / mo$191.26$191.26$54.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,583.39$1,808.44$2,197.43
Cash to close$60,007$30,000$30,000