Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,626/mo
Lowest payment
Down payment
$76,818
Funds due
$87,686
Interest + MI left
$106,290
First ends
Nov 2051
Assumption

Assumption + second

$1,964/mo
+$338/mo
Down payment
$34,818
Funds due
$47,030
Interest + MI left
$185,949
First ends
Nov 2051
New loan

New conventional

$2,537/mo
+$911/mo
Down payment
$34,818
Funds due
$43,566
Interest + MI left
$453,537
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$268,182$268,182$310,182
Second mortgage—$42,000—
First P&I$1,252.42$1,252.42$2,101.28
Second P&I—$337.94—
Mortgage insurance——$62.04
Taxes, insurance & HOA$374.00$374.00$374.00
Total housing payment$1,626.42$1,964.36$2,537.32

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$34,818
Closing costs & prepaids$12,212
Usable credit−$0
Total buyer cash needed$47,030
Earnest money paid−$0
Remaining funds due$47,030
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,450.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,340.91
Second-loan charges$1,250.00
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$414.00
Initial HOA (3 months)$258.00
Prepaid interest, first (9 days)$187.80
Prepaid interest, second (9 days)$93.21

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 closing24 yr 11 moOf the original 30-year loan at 2.84%
Interest already paid$41,349Through Dec 2026
Assumption only · ends Nov 2051$106,290
Assumption + second · ends Nov 2051, second Jan 2057$185,949
New conventional · ends Jan 2057$453,537