Loan Comparison: 3.8% vs 6.5%
445 Hickory Place, Broomfield, CO 80020 · 5bd/3ba · $484,900
List Price
$484,900
Assumable Rate
3.8%
Remaining Balance
$293,520
Equity Gap
$191,380
Loan Type
VAAdjust Your Scenario
$24,245
$24,245$191,380
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.8% + gap loan
$2,536/moAssumed loan: $1,368/mo
Gap financing: $1,169/mo
$375less per month with the assumable
Your Savings on This Property
445 Hickory Place, Broomfield · 3.8% VA vs 6.5% conventional
$375
per month
$4,504
per year
$135,123
over 30 years
$135,123
interest saved
How gap financing works: The equity gap ($191,380) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,245, 5% of purchase price) and a second mortgage for the rest ($167,135 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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