Raek, The bike you linked is all steel and weighs in at 38.5 lbs. and usually those are conservative weight estimates they provide.
Let's call it 40 lbs.

I also give a BIG VOTE for the Downtube Nova if that is all your budget permits.
If you can go a bit higher $, check out the Downtube 8FS or the 9 Silver for added features. They are all a lot of bike for the $.
Good value for the dollar.

The Nova weighs 24 lbs. and will fold much more compactly, a HUGE difference when carrying or lifting it into a car/bus/subway or up steps/into your house.

The 26" folding Mtn bike might fold, but i don't think it is what many of us would consider "compact".

Give it some thought before spending your $$.