Loan Comparison: 2.9% vs 6.5%
7930 Topeka Avenue, Cascade, CO 80809 · 6bd/6ba · $549,000
List Price
$549,000
Assumable Rate
2.9%
Remaining Balance
$196,996
Equity Gap
$352,003
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$352,003
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.9% + gap loan
$3,089/moAssumed loan: $820/mo
Gap financing: $2,269/mo
$207less per month with the assumable
Your Savings on This Property
7930 Topeka Avenue, Cascade · 2.9% VA vs 6.5% conventional
$207
per month
$2,487
per year
$74,618
over 30 years
$74,617
interest saved
How gap financing works: The equity gap ($352,003) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($324,553 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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