Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$13,387/mo
+$4,700/mo- Down payment
- $1,231,162
- Funds due
- $1,251,797
- Interest + MI left
- $151
- First ends
- Mar 2027
Assumption
Assumption + second
$21,297/mo
+$12,609/mo- Down payment
- $127,162
- Funds due
- $150,453
- Interest + MI left
- $1,743,460
- First ends
- Mar 2027
New loan
New conventional
$8,688/mo
Lowest payment- Down payment
- $127,162
- Funds due
- $146,876
- Interest + MI left
- $1,669,556
- First ends
- Jan 2057
Monthly payment
The initial total housing payment for each option.
| Assumption only | Assumption + second | New conventional | |
|---|---|---|---|
| First mortgage | $37,838 | $37,838 | $1,141,838 |
| Second mortgage | — | $1,104,000 | — |
| First P&I | $12,663.10 | $12,663.10 | $7,735.21 |
| Second P&I | — | $7,909.19 | — |
| Mortgage insurance | — | — | $228.37 |
| Taxes, insurance & HOA | $724.25 | $724.25 | $724.25 |
| Total housing payment | $13,387.35 | $21,296.54 | $8,687.83 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$127,162
Closing costs & prepaids$23,291
Usable credit−$0
Total buyer cash needed$150,453
Earnest money paid−$0
Remaining funds due$150,453
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$12,690.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$189.19
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,600.00
Insurance escrow (3 months)$650.00
Property tax escrow (3 months)$1,522.75
Prepaid interest, first (6 days)$14.93
Prepaid interest, second (6 days)$1,406.47
Prepaids include a year of home insurance up front, three months of taxes and insurance in escrow, and 6 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 closing3 moOf the original 1-year loan at 2.4%
Interest already paid$1,806Through Dec 2026
Assumption only · ends Mar 2027$151
Assumption + second · ends Mar 2027, second Jan 2057$1,743,460
New conventional · ends Jan 2057$1,669,556