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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$215,977$215,977$279,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$63,023$0
Funding fee$0$0$0
Note rate2.870%2.870%7.400%
Blended rate3.720%4.913%7.640%
1st payment$1,009.65$1,009.65$1,931.74
2nd payment$0.00$472.67$0.00
Taxes / mo$139.83$139.83$139.83
Insurance / mo$150.00$150.00$150.00
MI / mo$172.48$172.48$55.80
HOA / mo$0.00$0.00$0.00
Total monthly$1,471.96$1,944.63$2,277.37
Cash to close$94,023$31,000$31,000