Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$5,331/mo
Lowest payment
Down payment
$18,182
Funds due
$36,943
Interest + MI left
$858,294
First ends
Sep 2054
New loan

New conventional

$5,413/mo
+$82/mo
Down payment
$76,000
Funds due
$89,513
Interest + MI left
$1,037,332
First ends
Dec 2056

Monthly payment

The initial total housing payment for each option.

Assumption onlyNew conventional
First mortgage$741,818$684,000
Second mortgage——
First P&I$4,790.75$4,735.88
Second P&I——
Mortgage insurance—$136.80
Taxes, insurance & HOA$540.25$540.25
Total housing payment$5,331.00$5,412.93

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$18,182
Closing costs & prepaids$18,760
Usable credit−$0
Total buyer cash needed$36,943
Earnest money paid−$0
Remaining funds due$36,943
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$7,600.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$3,709.09
Home insurance (12 months up front)$2,600.00
Insurance escrow (3 months)$650.00
Property tax escrow (3 months)$610.75
Initial HOA (3 months)$360.00
Prepaid interest, first (2 days)$262.58

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 closing27 yr 10 moOf the original 30-year loan at 6.460%
Interest already paid$105,263Through Nov 2026
Assumption only · ends Sep 2054$858,294
New conventional · ends Dec 2056$1,037,332