Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$3,523/mo
Lowest payment
Down payment
$28,259
Funds due
$43,171
Interest + MI left
$430,133
First ends
Sep 2052
New loan

New conventional

$3,802/mo
+$279/mo
Down payment
$51,950
Funds due
$63,253
Interest + MI left
$683,635
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$491,241$467,550
Second mortgage——
First P&I$2,981.79$3,167.35
Second P&I——
Mortgage insurance—$93.51
Taxes, insurance & HOA$541.50$541.50
Total housing payment$3,523.29$3,802.36

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$28,259
Closing costs & prepaids$14,912
Usable credit−$0
Total buyer cash needed$43,171
Earnest money paid−$0
Remaining funds due$43,171
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$5,195.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,456.21
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$623.50
Initial HOA (3 months)$501.00
Prepaid interest, first (9 days)$668.63

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 5.52%
Interest already paid$119,313Through Dec 2026
Assumption only · ends Sep 2052$430,133
New conventional · ends Jan 2057$683,635