Loan Comparison: 6.24% vs 6.5%
8286 Lightening View Drive, Parker, CO 80134 · 4bd/2ba · $895,000
List Price
$895,000
Assumable Rate
6.24%
Remaining Balance
$773,462
Equity Gap
$121,537
Loan Type
VAAdjust Your Scenario
$44,750
$44,750$121,537
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.24% (VA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,374/moAssumable @ 6.24% + gap loan
$5,294/moAssumed loan: $4,757/mo
Gap financing: $537/mo
$80less per month with the assumable
Your Savings on This Property
8286 Lightening View Drive, Parker · 6.24% VA vs 6.5% conventional
$80
per month
$959
per year
$28,780
over 30 years
$28,779
interest saved
How gap financing works: The equity gap ($121,537) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,750, 5% of purchase price) and a second mortgage for the rest ($76,787 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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