Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,240/mo
Lowest payment
Down payment
$101,350
Funds due
$110,875
Interest + MI left
$55,579
First ends
Aug 2049
Assumption

Assumption + second

$1,859/mo
+$620/mo
Down payment
$24,350
Funds due
$35,296
Interest + MI left
$201,620
First ends
Aug 2049
New loan

New conventional

$2,013/mo
+$773/mo
Down payment
$24,350
Funds due
$32,436
Interest + MI left
$307,919
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$133,649$133,649$210,649
Second mortgage—$77,000—
First P&I$695.69$695.69$1,427.01
Second P&I—$619.56—
Mortgage insurance——$42.13
Taxes, insurance & HOA$544.00$544.00$544.00
Total housing payment$1,239.69$1,859.25$2,013.14

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$24,350
Closing costs & prepaids$10,947
Usable credit−$0
Total buyer cash needed$35,296
Earnest money paid−$0
Remaining funds due$35,296
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$2,349.99
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$668.25
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)$282.00
Initial HOA (3 months)$900.00
Prepaid interest, first (9 days)$107.43
Prepaid interest, second (9 days)$170.88

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 closing22 yr 8 moOf the original 29-year loan at 3.26%
Interest already paid$30,061Through Dec 2026
Assumption only · ends Aug 2049$55,579
Assumption + second · ends Aug 2049, second Jan 2057$201,620
New conventional · ends Jan 2057$307,919