Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$3,818/mo
Lowest payment- Down payment
- $0
- Funds due
- $15,554
- Interest + MI left
- $413,626
- First ends
- Jul 2052
New loan
New conventional
$3,884/mo
+$66/mo- Down payment
- $53,990
- Funds due
- $65,368
- Interest + MI left
- $710,481
- First ends
- Jan 2057
Monthly payment
The initial total housing payment for each option.
| Assumption only | New conventional | |
|---|---|---|
| First mortgage | $606,591 | $485,910 |
| Second mortgage | — | — |
| First P&I | $3,323.18 | $3,291.72 |
| Second P&I | — | — |
| Mortgage insurance | — | $97.18 |
| Taxes, insurance & HOA | $494.67 | $494.67 |
| Total housing payment | $3,817.85 | $3,883.57 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$0
Closing costs & prepaids$15,554
Usable credit−$0
Total buyer cash needed$15,554
Earnest money paid−$0
Remaining funds due$15,554
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$5,399.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$3,032.96
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$648.00
Initial HOA (3 months)$336.00
Prepaid interest, first (9 days)$670.08
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 4.48%
Interest already paid$125,312Through Dec 2026
Assumption only · ends Jul 2052$413,626
New conventional · ends Jan 2057$710,481