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	$8,111	$8,111	$225,000
Remaining term (yrs)	24.7	24.7	30.0
Secondary amount	$0	$216,889	$0
Funding fee	$0	$0	$0
Note rate	7.090%	7.090%	7.400%
Blended rate	7.640%	7.746%	7.640%
1st payment	$57.94	$57.94	$1,557.85
2nd payment	$0.00	$1,400.74	$0.00
Taxes / mo	$156.83	$156.83	$156.83
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$3.83	$3.83	$45.00
HOA / mo	$91.00	$91.00	$91.00
Total monthly	$459.60	$1,860.34	$2,000.69
Cash to close	$241,889	$25,000	$25,000