Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$4,710/mo
+$118/mo- Down payment
- $2,190
- Funds due
- $18,369
- Interest + MI left
- $739,835
- First ends
- Apr 2054
New loan
New conventional
$4,591/mo
Lowest payment- Down payment
- $62,990
- Funds due
- $74,608
- Interest + MI left
- $859,757
- First ends
- Dec 2056
Monthly payment
The initial total housing payment for each option.
| Assumption only | New conventional | |
|---|---|---|
| First mortgage | $627,710 | $566,910 |
| Second mortgage | — | — |
| First P&I | $4,156.67 | $3,925.17 |
| Second P&I | — | — |
| Mortgage insurance | — | $113.38 |
| Taxes, insurance & HOA | $552.84 | $552.84 |
| Total housing payment | $4,709.51 | $4,591.39 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$2,190
Closing costs & prepaids$16,179
Usable credit−$0
Total buyer cash needed$18,369
Earnest money paid−$0
Remaining funds due$18,369
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$6,299.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$3,138.55
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$1,131.00
Initial HOA (3 months)$27.51
Prepaid interest, first (1 days)$114.54
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 closing27 yr 5 moOf the original 30-year loan at 6.660%
Interest already paid$109,742Through Nov 2026
Assumption only · ends Apr 2054$739,835
New conventional · ends Dec 2056$859,757