Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$3,647/mo
Lowest payment
Down payment
$242,138
Funds due
$261,906
Interest + MI left
$294,828
First ends
Mar 2052
Assumption

Assumption + second

$4,777/mo
+$1,130/mo
Down payment
$88,138
Funds due
$109,460
Interest + MI left
$547,627
First ends
Mar 2052
New loan

New conventional

$6,091/mo
+$2,444/mo
Down payment
$88,138
Funds due
$103,938
Interest + MI left
$1,157,687
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$637,762$637,762$791,762
Second mortgage—$154,000—
First P&I$3,077.85$3,077.85$5,363.67
Second P&I—$1,130.00—
Mortgage insurance——$158.35
Taxes, insurance & HOA$568.67$568.67$568.67
Total housing payment$3,646.52$4,776.52$6,090.69

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$88,138
Closing costs & prepaids$21,322
Usable credit−$0
Total buyer cash needed$109,460
Earnest money paid−$0
Remaining funds due$109,460
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$8,799.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$3,188.81
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,600.00
Insurance escrow (3 months)$650.00
Property tax escrow (3 months)$1,056.00
Prepaid interest, first (9 days)$506.37
Prepaid interest, second (9 days)$303.78

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 closing25 yr 3 moOf the original 30-year loan at 3.22%
Interest already paid$103,300Through Dec 2026
Assumption only · ends Mar 2052$294,828
Assumption + second · ends Mar 2052, second Jan 2057$547,627
New conventional · ends Jan 2057$1,157,687