Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,717/mo
Lowest payment
Down payment
$66,905
Funds due
$77,125
Interest + MI left
$200,007
First ends
Jul 2052
Assumption

Assumption + second

$1,999/mo
+$282/mo
Down payment
$31,905
Funds due
$43,453
Interest + MI left
$266,390
First ends
Jul 2052
New loan

New conventional

$2,213/mo
+$496/mo
Down payment
$31,905
Funds due
$39,974
Interest + MI left
$406,419
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$242,995$242,995$277,995
Second mortgage—$35,000—
First P&I$1,443.00$1,443.00$1,883.23
Second P&I—$281.62—
Mortgage insurance——$55.60
Taxes, insurance & HOA$274.00$274.00$274.00
Total housing payment$1,717.00$1,998.62$2,212.83

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$31,905
Closing costs & prepaids$11,547
Usable credit−$0
Total buyer cash needed$43,453
Earnest money paid−$0
Remaining funds due$43,453
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,099.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$1,214.97
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)$372.00
Prepaid interest, first (9 days)$315.76
Prepaid interest, second (9 days)$77.67

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 7 moOf the original 30-year loan at 5.27%
Interest already paid$58,742Through Dec 2026
Assumption only · ends Jul 2052$200,007
Assumption + second · ends Jul 2052, second Jan 2057$266,390
New conventional · ends Jan 2057$406,419