Sophia Sommer | The Sommer Group

Sophia Sommer

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	$162,035	$162,035	$260,999
Remaining term (yrs)	21.7	21.7	30.0
Secondary amount	$0	$98,964	$0
Funding fee	$0	$0	$0
Note rate	4.590%	4.590%	7.400%
Blended rate	5.440%	6.790%	7.640%
1st payment	$980.35	$980.35	$1,807.11
2nd payment	$0.00	$742.23	$0.00
Taxes / mo	$166.50	$166.50	$166.50
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$135.62	$135.62	$52.20
HOA / mo	$84.00	$84.00	$84.00
Total monthly	$1,516.47	$2,258.69	$2,259.80
Cash to close	$127,964	$29,000	$29,000