Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,612/mo
Lowest payment
Down payment
$35,838
Funds due
$48,720
Interest + MI left
$257,203
First ends
Jun 2052
New loan

New conventional

$3,167/mo
+$555/mo
Down payment
$42,490
Funds due
$52,466
Interest + MI left
$559,147
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$389,062$382,410
Second mortgage——
First P&I$2,111.98$2,590.58
Second P&I——
Mortgage insurance—$76.48
Taxes, insurance & HOA$500.00$500.00
Total housing payment$2,611.98$3,167.06

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$35,838
Closing costs & prepaids$12,882
Usable credit−$0
Total buyer cash needed$48,720
Earnest money paid−$0
Remaining funds due$48,720
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,249.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,945.31
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$510.00
Initial HOA (3 months)$540.00
Prepaid interest, first (9 days)$419.71

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 6 moOf the original 30-year loan at 4.375%
Interest already paid$80,109Through Dec 2026
Assumption only · ends Jun 2052$257,203
New conventional · ends Jan 2057$559,147