Loan Comparison: 3.23% vs 6.5%
549 Mohawk Heights, Florissant, CO 80816 · 4bd/5ba · $2,449,974
List Price
$2,449,974
Assumable Rate
3.23%
Remaining Balance
$426,980
Equity Gap
$2,022,994
Loan Type
VAAdjust Your Scenario
$122,499
$122,499$2,022,994
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$14,711/moAssumable @ 3.23% + gap loan
$15,142/moAssumed loan: $1,854/mo
Gap financing: $13,289/mo
Your Savings on This Property
549 Mohawk Heights, Florissant · 3.23% 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 ($2,022,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($122,499, 5% of purchase price) and a second mortgage for the rest ($1,900,495 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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