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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$178,107$178,107$412,200
Remaining term (yrs)23.523.530.0
Secondary amount$0$234,093$0
Funding fee$0$0$0
Note rate3.470%3.470%7.400%
Blended rate4.320%6.268%7.640%
1st payment$922.46$922.46$2,853.99
2nd payment$0.00$1,511.85$0.00
Taxes / mo$91.92$91.92$91.92
Insurance / mo$166.67$166.67$166.67
MI / mo$146.06$146.06$82.44
HOA / mo$150.00$150.00$150.00
Total monthly$1,477.10$2,988.95$3,345.01
Cash to close$279,893$45,800$45,800