Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,539/mo
Lowest payment
Down payment
$149,894
Funds due
$162,338
Interest + MI left
$283,749
First ends
Jun 2052
Assumption

Assumption + second

$3,336/mo
+$797/mo
Down payment
$50,894
Funds due
$64,808
Interest + MI left
$471,517
First ends
Jun 2052
New loan

New conventional

$3,491/mo
+$953/mo
Down payment
$50,894
Funds due
$61,442
Interest + MI left
$655,115
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$349,106$349,106$448,106
Second mortgage—$99,000—
First P&I$1,903.99$1,903.99$3,035.63
Second P&I—$796.58—
Mortgage insurance$268.69$268.69$89.62
Taxes, insurance & HOA$366.25$366.25$366.25
Total housing payment$2,538.93$3,335.50$3,491.50

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$50,894
Closing costs & prepaids$13,914
Usable credit−$0
Total buyer cash needed$64,808
Earnest money paid−$0
Remaining funds due$64,808
Assumption fee$1,800.00
Credit report$250.00
UMe assumption specialist (1%)$4,990.00
Title & settlement$1,825.00
Recording fee$100.00
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)$598.75
Prepaid interest, first (9 days)$380.48
Prepaid interest, second (9 days)$219.70

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 6 moOf the original 30-year loan at 4.42%
Interest already paid$72,597Through Dec 2026
Assumption only · ends Jun 2052$283,749
Assumption + second · ends Jun 2052, second Jan 2057$471,517
New conventional · ends Jan 2057$655,115