Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,212/mo
Lowest payment
Down payment
$209,388
Funds due
$219,576
Interest + MI left
$160,556
First ends
Dec 2055
Assumption

Assumption + second

$2,489/mo
+$1,277/mo
Down payment
$35,388
Funds due
$47,169
Interest + MI left
$446,187
First ends
Dec 2055
New loan

New conventional

$2,519/mo
+$1,306/mo
Down payment
$35,388
Funds due
$44,090
Interest + MI left
$451,911
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$135,112$135,112$309,112
Second mortgage—$174,000—
First P&I$849.62$849.62$2,094.03
Second P&I—$1,276.75—
Mortgage insurance——$61.82
Taxes, insurance & HOA$362.83$362.83$362.83
Total housing payment$1,212.46$2,489.21$2,518.69

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$35,388
Closing costs & prepaids$11,782
Usable credit−$0
Total buyer cash needed$47,169
Earnest money paid−$0
Remaining funds due$47,169
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,445.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$675.56
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)$413.50
Initial HOA (3 months)$225.00
Prepaid interest, first (9 days)$211.22
Prepaid interest, second (9 days)$343.23

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 closing29 yrOf the original 30-year loan at 6.34%
Interest already paid$8,621Through Dec 2026
Assumption only · ends Dec 2055$160,556
Assumption + second · ends Dec 2055, second Jan 2057$446,187
New conventional · ends Jan 2057$451,911