Loan Comparison: 6.16% vs 6.5%
42812 Ricki Drive, Parker, CO 80138 · 4bd/4ba · $1,099,000
List Price
$1,099,000
Assumable Rate
6.16%
Remaining Balance
$792,839
Equity Gap
$306,161
Loan Type
VAAdjust Your Scenario
$54,950
$54,950$306,161
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.16% (VA)
Blended Rate: 6.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,599/moAssumable @ 6.16% + gap loan
$6,592/moAssumed loan: $4,835/mo
Gap financing: $1,757/mo
$7less per month with the assumable
Your Savings on This Property
42812 Ricki Drive, Parker · 6.16% VA vs 6.5% conventional
$7
per month
$87
per year
$2,617
over 30 years
$2,617
interest saved
How gap financing works: The equity gap ($306,161) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($54,950, 5% of purchase price) and a second mortgage for the rest ($251,211 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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