Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,111/mo
Lowest payment
Down payment
$430,273
Funds due
$446,258
Interest + MI left
$72,591
First ends
Jan 2046
Assumption

Assumption + second

$4,668/mo
+$2,558/mo
Down payment
$73,273
Funds due
$91,190
Interest + MI left
$636,324
First ends
Jan 2046
New loan

New conventional

$5,052/mo
+$2,941/mo
Down payment
$73,273
Funds due
$87,239
Interest + MI left
$952,933
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$294,727$294,727$651,727
Second mortgage—$357,000—
First P&I$1,604.01$1,604.01$4,415.03
Second P&I—$2,557.59—
Mortgage insurance——$130.35
Taxes, insurance & HOA$506.67$506.67$506.67
Total housing payment$2,110.68$4,668.27$5,052.04

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$73,273
Closing costs & prepaids$17,918
Usable credit−$0
Total buyer cash needed$91,190
Earnest money paid−$0
Remaining funds due$91,190
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$7,250.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,473.64
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,600.00
Insurance escrow (3 months)$650.00
Property tax escrow (3 months)$870.00
Prepaid interest, first (9 days)$173.69
Prepaid interest, second (9 days)$682.21

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 1 moOf the original 25-year loan at 2.39%
Interest already paid$46,612Through Dec 2026
Assumption only · ends Jan 2046$72,591
Assumption + second · ends Jan 2046, second Jan 2057$636,324
New conventional · ends Jan 2057$952,933