Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,694/mo
+$314/mo
Down payment
$0
Funds due
$11,490
Interest + MI left
$341,640
First ends
Sep 2052
New loan

New conventional

$2,380/mo
Lowest payment
Down payment
$31,990
Funds due
$40,470
Interest + MI left
$420,972
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$375,735$287,910
Second mortgage——
First P&I$2,321.60$1,950.40
Second P&I——
Mortgage insurance—$57.58
Taxes, insurance & HOA$372.00$372.00
Total housing payment$2,693.60$2,379.98

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$0
Closing costs & prepaids$11,490
Usable credit−$0
Total buyer cash needed$11,490
Earnest money paid−$0
Remaining funds due$11,490
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,199.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,878.68
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$384.00
Initial HOA (3 months)$282.00
Prepaid interest, first (9 days)$528.09

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 9 moOf the original 30-year loan at 5.7%
Interest already paid$94,137Through Dec 2026
Assumption only · ends Sep 2052$341,640
New conventional · ends Jan 2057$420,972