Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,272/mo
Lowest payment
Down payment
$121,828
Funds due
$131,628
Interest + MI left
$91,357
First ends
Apr 2050
Assumption

Assumption + second

$1,996/mo
+$724/mo
Down payment
$31,828
Funds due
$43,078
Interest + MI left
$262,055
First ends
Apr 2050
New loan

New conventional

$2,214/mo
+$942/mo
Down payment
$31,828
Funds due
$39,899
Interest + MI left
$406,678
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$188,172$188,172$278,172
Second mortgage—$90,000—
First P&I$998.32$998.32$1,884.43
Second P&I—$724.16—
Mortgage insurance——$55.63
Taxes, insurance & HOA$274.00$274.00$274.00
Total housing payment$1,272.32$1,996.48$2,214.07

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$31,828
Closing costs & prepaids$11,249
Usable credit−$0
Total buyer cash needed$43,078
Earnest money paid−$0
Remaining funds due$43,078
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,100.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$940.86
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)$372.00
Prepaid interest, first (9 days)$168.89
Prepaid interest, second (9 days)$199.73

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 closing23 yr 4 moOf the original 30-year loan at 3.64%
Interest already paid$49,537Through Dec 2026
Assumption only · ends Apr 2050$91,357
Assumption + second · ends Apr 2050, second Jan 2057$262,055
New conventional · ends Jan 2057$406,678