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	$290,980	$290,980	$350,910
Remaining term (yrs)	28.7	28.7	30.0
Secondary amount	$0	$59,930	$0
Funding fee	$0	$0	$0
Note rate	6.890%	6.890%	7.400%
Blended rate	7.440%	7.706%	7.640%
1st payment	$1,938.04	$1,938.04	$2,429.63
2nd payment	$0.00	$449.48	$0.00
Taxes / mo	$121.75	$121.75	$121.75
Insurance / mo	$150.00	$150.00	$150.00
MI / mo	$135.01	$135.01	$70.18
HOA / mo	$0.00	$0.00	$0.00
Total monthly	$2,344.80	$2,794.28	$2,771.56
Cash to close	$98,920	$38,990	$38,990