Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,413/mo
Lowest payment
Down payment
$63,164
Funds due
$76,371
Interest + MI left
$213,149
First ends
Apr 2052
Assumption

Assumption + second

$2,810/mo
+$397/mo
Down payment
$24,164
Funds due
$38,736
Interest + MI left
$317,217
First ends
Apr 2052
New loan

New conventional

$3,501/mo
+$1,088/mo
Down payment
$24,164
Funds due
$34,716
Interest + MI left
$661,631
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$411,836$411,836$450,836
Second mortgage—$39,000—
First P&I$2,055.87$2,055.87$3,054.12
Second P&I—$397.41—
Mortgage insurance——$90.17
Taxes, insurance & HOA$356.67$356.67$356.67
Total housing payment$2,412.54$2,809.95$3,500.95

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$24,164
Closing costs & prepaids$14,572
Usable credit−$0
Total buyer cash needed$38,736
Earnest money paid−$0
Remaining funds due$38,736
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,750.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,059.18
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$570.00
Prepaid interest, first (9 days)$360.50
Prepaid interest, second (9 days)$114.20

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 4 moOf the original 30-year loan at 3.55%
Interest already paid$71,965Through Dec 2026
Assumption only · ends Apr 2052$213,149
Assumption + second · ends Apr 2052, second Jan 2057$317,217
New conventional · ends Jan 2057$661,631