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	$409,175	$409,175	$454,500
Remaining term (yrs)	27.6	27.6	30.0
Secondary amount	$0	$45,325	$0
Funding fee	$0	$0	$0
Note rate	6.990%	6.990%	7.400%
Blended rate	7.540%	7.686%	7.640%
1st payment	$2,786.20	$2,786.20	$3,146.87
2nd payment	$0.00	$339.94	$0.00
Taxes / mo	$155.83	$155.83	$155.83
Insurance / mo	$166.67	$166.67	$166.67
MI / mo	$192.14	$192.14	$90.90
HOA / mo	$0.00	$0.00	$0.00
Total monthly	$3,300.84	$3,640.78	$3,560.27
Cash to close	$95,825	$50,500	$50,500