Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$942/mo
Lowest payment
Down payment
$382,514
Funds due
$394,315
Interest + MI left
$42,577
First ends
Feb 2051
Assumption

Assumption + second

$3,321/mo
+$2,378/mo
Down payment
$50,514
Funds due
$64,199
Interest + MI left
$566,833
First ends
Feb 2051
New loan

New conventional

$3,522/mo
+$2,579/mo
Down payment
$50,514
Funds due
$61,150
Interest + MI left
$655,761
First ends
Jan 2057

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$116,486$116,486$448,486
Second mortgage—$332,000—
First P&I$548.49$548.49$3,038.20
Second P&I—$2,378.49—
Mortgage insurance——$89.70
Taxes, insurance & HOA$393.92$393.92$393.92
Total housing payment$942.41$3,320.90$3,521.82

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$50,514
Closing costs & prepaids$13,685
Usable credit−$0
Total buyer cash needed$64,199
Earnest money paid−$0
Remaining funds due$64,199
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,990.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$582.43
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$598.75
Initial HOA (3 months)$83.01
Prepaid interest, first (9 days)$78.13
Prepaid interest, second (9 days)$634.44

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 closing24 yr 2 moOf the original 30-year loan at 2.72%
Interest already paid$20,001Through Dec 2026
Assumption only · ends Feb 2051$42,577
Assumption + second · ends Feb 2051, second Jan 2057$566,833
New conventional · ends Jan 2057$655,761