Loan Comparison: 6.74% vs 6.5%
7042 Otoole Drive, Calhan, CO 80808 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
6.74%
Remaining Balance
$466,501
Equity Gap
$33,498
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$33,498
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.74% (VA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.74% + gap loan
$3,082/moAssumed loan: $3,023/mo
Gap financing: $59/mo
Your Savings on This Property
7042 Otoole Drive, Calhan · 6.74% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($33,498) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($8,498 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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