Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,785/mo
Lowest payment
Down payment
$122,418
Funds due
$134,223
Interest + MI left
$134,346
First ends
Feb 2052
Assumption

Assumption + second

$2,421/mo
+$636/mo
Down payment
$43,418
Funds due
$56,648
Interest + MI left
$284,181
First ends
Feb 2052
New loan

New conventional

$3,018/mo
+$1,233/mo
Down payment
$43,418
Funds due
$52,909
Interest + MI left
$565,247
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$307,582$307,582$386,582
Second mortgage—$79,000—
First P&I$1,463.34$1,463.34$2,618.84
Second P&I—$635.65—
Mortgage insurance——$77.32
Taxes, insurance & HOA$322.00$322.00$322.00
Total housing payment$1,785.34$2,420.99$3,018.16

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$43,418
Closing costs & prepaids$13,230
Usable credit−$0
Total buyer cash needed$56,648
Earnest money paid−$0
Remaining funds due$56,648
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,300.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,537.91
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)$516.00
Prepaid interest, first (9 days)$232.84
Prepaid interest, second (9 days)$175.32

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 2 moOf the original 30-year loan at 3.07%
Interest already paid$48,455Through Dec 2026
Assumption only · ends Feb 2052$134,346
Assumption + second · ends Feb 2052, second Jan 2057$284,181
New conventional · ends Jan 2057$565,247