Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$3,609/mo
Lowest payment
Down payment
$147,138
Funds due
$165,842
Interest + MI left
$294,828
First ends
Mar 2052
Assumption

Assumption + second

$4,156/mo
+$547/mo
Down payment
$79,138
Funds due
$99,243
Interest + MI left
$423,799
First ends
Mar 2052
New loan

New conventional

$5,453/mo
+$1,844/mo
Down payment
$79,138
Funds due
$93,812
Interest + MI left
$1,031,941
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$637,762$637,762$705,762
Second mortgage—$68,000—
First P&I$3,077.85$3,077.85$4,781.08
Second P&I—$547.14—
Mortgage insurance——$141.15
Taxes, insurance & HOA$530.67$530.67$530.67
Total housing payment$3,608.52$4,155.66$5,452.90

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$79,138
Closing costs & prepaids$20,105
Usable credit−$0
Total buyer cash needed$99,243
Earnest money paid−$0
Remaining funds due$99,243
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$7,849.00
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)$942.00
Prepaid interest, first (9 days)$506.37
Prepaid interest, second (9 days)$150.90

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$423,799
New conventional · ends Jan 2057$1,031,941