Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$1,741/mo
Lowest payment
Down payment
$136,499
Funds due
$147,836
Interest + MI left
$75,677
First ends
Aug 2050
Assumption

Assumption + second

$2,511/mo
+$770/mo
Down payment
$31,499
Funds due
$44,109
Interest + MI left
$248,040
First ends
Aug 2050
New loan

New conventional

$2,840/mo
+$1,099/mo
Down payment
$31,499
Funds due
$40,916
Interest + MI left
$417,706
First ends
Dec 2056

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$170,501$170,501$275,501
Second mortgage—$105,000—
First P&I$863.78$863.78$1,907.51
Second P&I—$770.45—
Mortgage insurance——$55.10
Taxes, insurance & HOA$877.08$877.08$877.08
Total housing payment$1,740.87$2,511.32$2,839.70

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$31,499
Closing costs & prepaids$12,610
Usable credit−$0
Total buyer cash needed$44,109
Earnest money paid−$0
Remaining funds due$44,109
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$3,070.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$852.50
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)$225.25
Initial HOA (3 months)$1,956.00
Prepaid interest, first (1 days)$15.42
Prepaid interest, second (1 days)$23.01

Prepaids include a year of home insurance up front, three months of taxes and insurance in escrow, and 1 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 closing23 yr 9 moOf the original 30-year loan at 3.300%
Interest already paid$38,054Through Nov 2026
Assumption only · ends Aug 2050$75,677
Assumption + second · ends Aug 2050, second Dec 2056$248,040
New conventional · ends Dec 2056$417,706