Sophia Sommer

(602) 512-9825

Compare the three ways to buy

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

Cash to Close
Assumption

Assumption only

$2,631/mo
Lowest payment
Down payment
$76,115
Funds due
$89,065
Interest + MI left
$300,041
First ends
Jul 2052
Assumption

Assumption + second

$2,840/mo
+$209/mo
Down payment
$50,115
Funds due
$64,322
Interest + MI left
$349,354
First ends
Jul 2052
New loan

New conventional

$3,462/mo
+$831/mo
Down payment
$50,115
Funds due
$59,719
Interest + MI left
$673,093
First ends
Dec 2056

Monthly payment

The initial total housing payment for each option.

Assumption onlyAssumption + secondNew conventional
First mortgage$417,885$417,885$443,885
Second mortgage—$26,000—
First P&I$2,330.93$2,330.93$3,073.37
Second P&I—$209.20—
Mortgage insurance——$88.78
Taxes, insurance & HOA$299.92$299.92$299.92
Total housing payment$2,630.85$2,840.05$3,462.06

Cash to close

Down payment, closing costs and prepaids, then credits.

Down payment$50,115
Closing costs & prepaids$14,207
Usable credit−$0
Total buyer cash needed$64,322
Earnest money paid−$0
Remaining funds due$64,322
Assumption fee$763.00
Credit report$200.00
Tax service$80.00
UMe assumption specialist (1%)$4,940.00
Title & settlement$1,825.00
Recording fee$100.00
VA funding fee (0.5%)$2,089.43
Second-loan charges$1,250.00
Home insurance (12 months up front)$2,000.00
Insurance escrow (3 months)$500.00
Property tax escrow (3 months)$399.75
Prepaid interest, first (1 days)$53.47
Prepaid interest, second (1 days)$6.41

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 closing25 yr 8 moOf the original 30-year loan at 4.670%
Interest already paid$88,094Through Nov 2026
Assumption only · ends Jul 2052$300,041
Assumption + second · ends Jul 2052, second Dec 2056$349,354
New conventional · ends Dec 2056$673,093