Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,557/mo
Lowest payment
Down payment
$486,466
Funds due
$500,450
Interest + MI left
$75,476
First ends
Oct 2045
Assumption

Assumption + second

$4,558/mo
+$3,002/mo
Down payment
$67,466
Funds due
$83,501
Interest + MI left
$737,112
First ends
Oct 2045
New loan

New conventional

$4,600/mo
+$3,043/mo
Down payment
$67,466
Funds due
$79,972
Interest + MI left
$873,694
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$178,534$178,534$597,534
Second mortgage—$419,000—
First P&I$1,123.94$1,123.94$4,047.90
Second P&I—$3,001.77—
Mortgage insurance——$119.51
Taxes, insurance & HOA$432.67$432.67$432.67
Total housing payment$1,556.60$4,558.37$4,600.08

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$67,466
Closing costs & prepaids$16,035
Usable credit−$0
Total buyer cash needed$83,501
Earnest money paid−$0
Remaining funds due$83,501
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$6,650.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$892.67
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)$798.00
Prepaid interest, first (9 days)$175.21
Prepaid interest, second (9 days)$800.69

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 closing18 yr 10 moOf the original 30-year loan at 3.98%
Interest already paid$93,151Through Dec 2026
Assumption only · ends Oct 2045$75,476
Assumption + second · ends Oct 2045, second Jan 2057$737,112
New conventional · ends Jan 2057$873,694