Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$3,635/mo
Lowest payment- Down payment
- $0
- Funds due
- $14,297
- Interest + MI left
- $424,346
- First ends
- Aug 2052
New loan
New conventional
$3,683/mo
+$48/mo- Down payment
- $49,000
- Funds due
- $59,387
- Interest + MI left
- $668,806
- First ends
- Dec 2056
Monthly payment
The initial total housing payment for each option.
| Assumption only | New conventional | |
|---|---|---|
| First mortgage | $531,616 | $441,000 |
| Second mortgage | — | — |
| First P&I | $3,093.73 | $3,053.39 |
| Second P&I | — | — |
| Mortgage insurance | — | $88.20 |
| Taxes, insurance & HOA | $540.92 | $540.92 |
| Total housing payment | $3,634.64 | $3,682.51 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$0
Closing costs & prepaids$14,297
Usable credit−$0
Total buyer cash needed$14,297
Earnest money paid−$0
Remaining funds due$14,297
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,900.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,658.08
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$747.75
Initial HOA (3 months)$375.00
Prepaid interest, first (2 days)$148.56
Prepaids include a year of home insurance up front, three months of taxes and insurance in escrow, and 2 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 9 moOf the original 30-year loan at 5.100%
Interest already paid$119,596Through Nov 2026
Assumption only · ends Aug 2052$424,346
New conventional · ends Dec 2056$668,806