Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$674/mo
Lowest payment
Down payment
$115,661
Funds due
$123,733
Interest + MI left
$37,374
First ends
Mar 2052
Assumption

Assumption + second

$1,439/mo
+$764/mo
Down payment
$20,661
Funds due
$30,194
Interest + MI left
$217,555
First ends
Mar 2052
New loan

New conventional

$1,523/mo
+$849/mo
Down payment
$20,661
Funds due
$27,564
Interest + MI left
$262,152
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$84,339$84,339$179,339
Second mortgage—$95,000—
First P&I$401.69$401.69$1,214.90
Second P&I—$764.39—
Mortgage insurance——$35.87
Taxes, insurance & HOA$272.50$272.50$272.50
Total housing payment$674.19$1,438.59$1,523.27

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$20,661
Closing costs & prepaids$9,532
Usable credit−$0
Total buyer cash needed$30,194
Earnest money paid−$0
Remaining funds due$30,194
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$2,000.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$421.69
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)$240.00
Initial HOA (3 months)$127.50
Prepaid interest, first (9 days)$64.47
Prepaid interest, second (9 days)$210.82

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 3 moOf the original 30-year loan at 3.1%
Interest already paid$13,165Through Dec 2026
Assumption only · ends Mar 2052$37,374
Assumption + second · ends Mar 2052, second Jan 2057$217,555
New conventional · ends Jan 2057$262,152