Loan Comparison: 3.16% vs 6.5%
13032 Grant Circle, Thornton, CO 80241 · 3bd/3ba · $408,900
List Price
$408,900
Assumable Rate
3.16%
Remaining Balance
$148,222
Equity Gap
$260,678
Loan Type
VAAdjust Your Scenario
$20,445
$20,445$260,678
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,455/moAssumable @ 3.16% + gap loan
$2,318/moAssumed loan: $638/mo
Gap financing: $1,680/mo
$138less per month with the assumable
Your Savings on This Property
13032 Grant Circle, Thornton · 3.16% VA vs 6.5% conventional
$138
per month
$1,653
per year
$49,602
over 30 years
$49,602
interest saved
How gap financing works: The equity gap ($260,678) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,445, 5% of purchase price) and a second mortgage for the rest ($240,233 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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