Compare the three ways to buy
The payment, the cash to close, and what is left to pay
Assumption
Assumption only
$4,026/mo
Lowest payment- Down payment
- $26,794
- Funds due
- $43,005
- Interest + MI left
- $436,272
- First ends
- Sep 2052
New loan
New conventional
$4,566/mo
+$540/mo- Down payment
- $58,400
- Funds due
- $70,508
- Interest + MI left
- $797,108
- First ends
- Dec 2056
Monthly payment
The initial total housing payment for each option.
| Assumption only | New conventional | |
|---|---|---|
| First mortgage | $557,206 | $525,600 |
| Second mortgage | — | — |
| First P&I | $3,204.77 | $3,639.15 |
| Second P&I | — | — |
| Mortgage insurance | — | $105.12 |
| Taxes, insurance & HOA | $821.33 | $821.33 |
| Total housing payment | $4,026.10 | $4,565.60 |
Cash to close
Down payment, closing costs and prepaids, then credits.
Down payment$26,794
Closing costs & prepaids$16,211
Usable credit−$0
Total buyer cash needed$43,005
Earnest money paid−$0
Remaining funds due$43,005
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$5,840.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,786.03
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$1,460.00
Initial HOA (3 months)$504.00
Prepaid interest, first (2 days)$152.66
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 10 moOf the original 30-year loan at 5.000%
Interest already paid$120,455Through Nov 2026
Assumption only · ends Sep 2052$436,272
New conventional · ends Dec 2056$797,108