Loan Comparison: 2.97% vs 6.5%
12095 Silver Concho Trail, Elbert, CO 80106 · 5bd/4ba · $800,000
List Price
$800,000
Assumable Rate
2.97%
Remaining Balance
$549,760
Equity Gap
$250,240
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$250,240
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.97% + gap loan
$3,779/moAssumed loan: $2,309/mo
Gap financing: $1,470/mo
$1,025less per month with the assumable
Your Savings on This Property
12095 Silver Concho Trail, Elbert · 2.97% VA vs 6.5% conventional
$1,025
per month
$12,297
per year
$368,915
over 30 years
$368,915
interest saved
How gap financing works: The equity gap ($250,240) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($210,240 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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