Loan Comparison: 6.54% vs 6.5%
13490 Halleluiah Trail, Elbert, CO 80106 · 6bd/4ba · $758,000
List Price
$758,000
Assumable Rate
6.54%
Remaining Balance
$572,357
Equity Gap
$185,642
Loan Type
VAAdjust Your Scenario
$37,900
$37,900$185,642
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.54% (VA)
Blended Rate: 6.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,552/moAssumable @ 6.54% + gap loan
$4,666/moAssumed loan: $3,633/mo
Gap financing: $1,033/mo
Your Savings on This Property
13490 Halleluiah Trail, Elbert · 6.54% 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 ($185,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,900, 5% of purchase price) and a second mortgage for the rest ($147,742 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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