Loan Comparison: 2.94% vs 6.5%
3155 104th Avenue, Thornton, CO 80233 · 4bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.94%
Remaining Balance
$206,151
Equity Gap
$168,848
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$168,848
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.94% + gap loan
$1,912/moAssumed loan: $862/mo
Gap financing: $1,050/mo
$340less per month with the assumable
Your Savings on This Property
3155 104th Avenue, Thornton · 2.94% VA vs 6.5% conventional
$340
per month
$4,077
per year
$122,310
over 30 years
$122,309
interest saved
How gap financing works: The equity gap ($168,848) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($150,098 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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