Sophia Sommer | The Sommer Group

Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Payment stack including taxes, insurance, and HOA

Down payment / equity bring-to

Detail	Assumable Loan Assumable · FHA	Current Market Conventional New · Conventional
Loan amount	$291,696	$290,700
Remaining term (yrs)	28.0	30.0
Secondary amount	$0	$0
Funding fee	$0	$0
Note rate	6.500%	7.400%
Blended rate	7.050%	7.640%
1st payment	$1,883.39	$2,012.75
2nd payment	$0.00	$0.00
Taxes / mo	$77.42	$77.42
Insurance / mo	$150.00	$150.00
MI / mo	$136.57	$58.14
HOA / mo	$0.00	$0.00
Total monthly	$2,247.37	$2,298.30
Cash to close	$31,304	$32,300