Loan Comparison: 2.74% vs 6.5%
826 Willow Drive, Brighton, CO 80603 · 5bd/5ba · $436,000
List Price
$436,000
Assumable Rate
2.74%
Remaining Balance
$227,941
Equity Gap
$208,059
Loan Type
VAAdjust Your Scenario
$21,800
$21,800$208,059
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,618/moAssumable @ 2.74% + gap loan
$2,232/moAssumed loan: $929/mo
Gap financing: $1,302/mo
$386less per month with the assumable
Your Savings on This Property
826 Willow Drive, Brighton · 2.74% VA vs 6.5% conventional
$386
per month
$4,636
per year
$139,080
over 30 years
$139,080
interest saved
How gap financing works: The equity gap ($208,059) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,800, 5% of purchase price) and a second mortgage for the rest ($186,259 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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