Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$3,171/mo
+$80/mo- Down payment
- $21,441
- Funds due
- $32,583
- Interest + MI left
- $444,727
- First ends
- Oct 2052
New loan
New conventional
$3,091/mo
Lowest payment- Down payment
- $42,980
- Funds due
- $51,906
- Interest + MI left
- $586,639
- First ends
- Dec 2056
Monthly payment
The initial total housing payment for each option.
| Assumption only | New conventional | |
|---|---|---|
| First mortgage | $408,359 | $386,820 |
| Second mortgage | — | — |
| First P&I | $2,529.97 | $2,678.26 |
| Second P&I | — | — |
| Mortgage insurance | $305.95 | $77.36 |
| Taxes, insurance & HOA | $334.91 | $334.91 |
| Total housing payment | $3,170.83 | $3,090.54 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$21,441
Closing costs & prepaids$11,142
Usable credit−$0
Total buyer cash needed$32,583
Earnest money paid−$0
Remaining funds due$32,583
Assumption fee$1,800.00
Credit report$250.00
UMe assumption specialist (1%)$4,298.00
Title & settlement$1,825.00
Recording fee$100.00
Home insurance (12 months up front)$1,800.00
Insurance escrow (3 months)$450.00
Property tax escrow (3 months)$316.75
Initial HOA (3 months)$237.99
Prepaid interest, first (1 days)$64.71
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 closing25 yr 11 moOf the original 30-year loan at 5.784%
Interest already paid$99,271Through Nov 2026
Assumption only · ends Oct 2052$444,727
New conventional · ends Dec 2056$586,639