Loan Comparison: 3.04% vs 6.5%
359 Parkview Avenue, Golden, CO 80401 · 5bd/3ba · $1,999,999
List Price
$1,999,999
Assumable Rate
3.04%
Remaining Balance
$602,852
Equity Gap
$1,397,146
Loan Type
VAAdjust Your Scenario
$100,000
$100,000$1,397,146
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$12,009/moAssumable @ 3.04% + gap loan
$11,625/moAssumed loan: $2,555/mo
Gap financing: $9,070/mo
$385less per month with the assumable
Your Savings on This Property
359 Parkview Avenue, Golden · 3.04% VA vs 6.5% conventional
$385
per month
$4,617
per year
$138,521
over 30 years
$138,520
interest saved
How gap financing works: The equity gap ($1,397,146) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($100,000, 5% of purchase price) and a second mortgage for the rest ($1,297,146 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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