Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,476/mo
Lowest payment
Down payment
$73,947
Funds due
$86,394
Interest + MI left
$302,490
First ends
Nov 2052
Assumption

Assumption + second

$2,709/mo
+$233/mo
Down payment
$44,947
Funds due
$58,709
Interest + MI left
$357,492
First ends
Nov 2052
New loan

New conventional

$3,081/mo
+$606/mo
Down payment
$44,947
Funds due
$54,550
Interest + MI left
$577,554
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$366,053$366,053$395,053
Second mortgage—$29,000—
First P&I$2,149.66$2,149.66$2,676.23
Second P&I—$233.34—
Mortgage insurance——$79.01
Taxes, insurance & HOA$326.00$326.00$326.00
Total housing payment$2,475.66$2,709.00$3,081.24

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$44,947
Closing costs & prepaids$13,762
Usable credit−$0
Total buyer cash needed$58,709
Earnest money paid−$0
Remaining funds due$58,709
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,400.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,830.27
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)$528.00
Prepaid interest, first (9 days)$471.16
Prepaid interest, second (9 days)$64.36

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 11 moOf the original 30-year loan at 5.22%
Interest already paid$80,786Through Dec 2026
Assumption only · ends Nov 2052$302,490
Assumption + second · ends Nov 2052, second Jan 2057$357,492
New conventional · ends Jan 2057$577,554