Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,884/mo
Lowest payment
Down payment
$87,015
Funds due
$97,777
Interest + MI left
$225,482
First ends
Sep 2052
Assumption

Assumption + second

$2,311/mo
+$426/mo
Down payment
$34,015
Funds due
$46,145
Interest + MI left
$326,004
First ends
Sep 2052
New loan

New conventional

$2,451/mo
+$567/mo
Down payment
$34,015
Funds due
$42,589
Interest + MI left
$440,030
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$247,985$247,985$300,985
Second mortgage—$53,000—
First P&I$1,532.26$1,532.26$2,038.98
Second P&I—$426.45—
Mortgage insurance——$60.20
Taxes, insurance & HOA$352.00$352.00$352.00
Total housing payment$1,884.26$2,310.71$2,451.17

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$34,015
Closing costs & prepaids$12,130
Usable credit−$0
Total buyer cash needed$46,145
Earnest money paid−$0
Remaining funds due$46,145
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,350.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,239.93
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)$402.00
Initial HOA (3 months)$204.00
Prepaid interest, first (9 days)$348.54
Prepaid interest, second (9 days)$117.62

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$62,130Through Dec 2026
Assumption only · ends Sep 2052$225,482
Assumption + second · ends Sep 2052, second Jan 2057$326,004
New conventional · ends Jan 2057$440,030