Loan Comparison: 3.53% vs 6.5%
8412 Newland Drive, Arvada, CO 80003 · 3bd/1ba · $615,000
List Price
$615,000
Assumable Rate
3.53%
Remaining Balance
$173,261
Equity Gap
$441,739
Loan Type
VAAdjust Your Scenario
$30,750
$30,750$441,739
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.53% (VA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 3.53% + gap loan
$3,655/moAssumed loan: $781/mo
Gap financing: $2,874/mo
$38less per month with the assumable
Your Savings on This Property
8412 Newland Drive, Arvada · 3.53% VA vs 6.5% conventional
$38
per month
$459
per year
$13,766
over 30 years
$13,766
interest saved
How gap financing works: The equity gap ($441,739) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($410,989 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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