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	$231,941	$231,941	$314,910
Remaining term (yrs)	29.6	29.6	30.0
Secondary amount	$0	$82,969	$0
Funding fee	$0	$0	$0
Note rate	6.300%	6.300%	7.400%
Blended rate	6.850%	7.416%	7.640%
1st payment	$1,439.73	$1,439.73	$2,180.37
2nd payment	$0.00	$622.27	$0.00
Taxes / mo	$80.33	$80.33	$80.33
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$106.61	$106.61	$62.98
HOA / mo	$45.50	$45.50	$45.50
Total monthly	$1,822.17	$2,444.44	$2,519.19
Cash to close	$117,959	$34,990	$34,990