Compare the three ways to buy

The payment, the cash to close, and what is left to pay

Cash to Close
Assumption

Assumption only

$3,442/mo
+$118/mo
Down payment
$11,962
Funds due
$25,657
Interest + MI left
$532,550
First ends
Jun 2054
New loan

New conventional

$3,324/mo
Lowest payment
Down payment
$44,950
Funds due
$55,195
Interest + MI left
$591,519
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$437,538$404,550
Second mortgage——
First P&I$2,939.66$2,740.56
Second P&I——
Mortgage insurance—$80.91
Taxes, insurance & HOA$502.83$502.83
Total housing payment$3,442.49$3,324.31

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$11,962
Closing costs & prepaids$13,695
Usable credit−$0
Total buyer cash needed$25,657
Earnest money paid−$0
Remaining funds due$25,657
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,495.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,187.69
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$539.50
Initial HOA (3 months)$519.00
Prepaid interest, first (9 days)$735.78

Prepaids include a year of home insurance up front, three months of taxes and insurance in escrow, and 9 days of interest to the end of the closing month.

What is left to pay

The seller already paid down the early, interest-heavy years.

Remaining first mortgage at closing27 yr 6 moOf the original 30-year loan at 6.82%
Interest already paid$75,728Through Dec 2026
Assumption only · ends Jun 2054$532,550
New conventional · ends Jan 2057$591,519