Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$2,681/mo
Lowest payment- Down payment
- $936,290
- Funds due
- $958,676
- Interest + MI left
- $130,259
- First ends
- Sep 2046
Assumption
Assumption + second
$8,477/mo
+$5,796/mo- Down payment
- $127,290
- Funds due
- $152,472
- Interest + MI left
- $1,407,738
- First ends
- Sep 2046
New loan
New conventional
$8,680/mo
+$5,998/mo- Down payment
- $127,290
- Funds due
- $147,691
- Interest + MI left
- $1,663,520
- First ends
- Jan 2057
Monthly payment
The initial total housing payment for each option.
| Assumption only | Assumption + second | New conventional | |
|---|---|---|---|
| First mortgage | $328,710 | $328,710 | $1,137,710 |
| Second mortgage | — | $809,000 | — |
| First P&I | $1,936.58 | $1,936.58 | $7,707.24 |
| Second P&I | — | $5,795.78 | — |
| Mortgage insurance | — | — | $227.54 |
| Taxes, insurance & HOA | $744.75 | $744.75 | $744.75 |
| Total housing payment | $2,681.32 | $8,477.10 | $8,679.53 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$127,290
Closing costs & prepaids$25,182
Usable credit−$0
Total buyer cash needed$152,472
Earnest money paid−$0
Remaining funds due$152,472
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$12,650.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,643.55
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)$1,518.00
Initial HOA (3 months)$66.24
Prepaid interest, first (9 days)$290.17
Prepaid interest, second (9 days)$1,545.97
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 3.58%
Interest already paid$139,901Through Dec 2026
Assumption only · ends Sep 2046$130,259
Assumption + second · ends Sep 2046, second Jan 2057$1,407,738
New conventional · ends Jan 2057$1,663,520