Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,930/mo
Lowest payment
Down payment
$0
Funds due
$13,332
Interest + MI left
$255,909
First ends
Apr 2052
New loan

New conventional

$3,139/mo
+$209/mo
Down payment
$43,500
Funds due
$53,310
Interest + MI left
$572,438
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$510,584$391,500
Second mortgage——
First P&I$2,521.36$2,652.16
Second P&I——
Mortgage insurance—$78.30
Taxes, insurance & HOA$409.00$409.00
Total housing payment$2,930.36$3,139.46

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$0
Closing costs & prepaids$13,332
Usable credit−$0
Total buyer cash needed$13,332
Earnest money paid−$0
Remaining funds due$13,332
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,350.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,552.92
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$522.00
Initial HOA (3 months)$255.00
Prepaid interest, first (9 days)$434.35

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 4 moOf the original 30-year loan at 3.45%
Interest already paid$86,780Through Dec 2026
Assumption only · ends Apr 2052$255,909
New conventional · ends Jan 2057$572,438