Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,119/mo
Lowest payment
Down payment
$328,397
Funds due
$339,773
Interest + MI left
$51,595
First ends
Sep 2046
Assumption

Assumption + second

$3,139/mo
+$2,020/mo
Down payment
$46,397
Funds due
$59,562
Interest + MI left
$496,897
First ends
Sep 2046
New loan

New conventional

$3,228/mo
+$2,109/mo
Down payment
$46,397
Funds due
$56,479
Interest + MI left
$603,294
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$130,603$130,603$412,603
Second mortgage—$282,000—
First P&I$768.77$768.77$2,795.12
Second P&I—$2,020.28—
Mortgage insurance——$82.52
Taxes, insurance & HOA$350.25$350.25$350.25
Total housing payment$1,119.02$3,139.30$3,227.89

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$46,397
Closing costs & prepaids$13,166
Usable credit−$0
Total buyer cash needed$59,562
Earnest money paid−$0
Remaining funds due$59,562
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,590.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$653.02
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)$550.75
Prepaid interest, first (9 days)$114.97
Prepaid interest, second (9 days)$538.89

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 closing19 yr 9 moOf the original 30-year loan at 3.57%
Interest already paid$55,441Through Dec 2026
Assumption only · ends Sep 2046$51,595
Assumption + second · ends Sep 2046, second Jan 2057$496,897
New conventional · ends Jan 2057$603,294