Loan Comparison: 3.31% vs 6.5%
5690 80th Place, Arvada, CO 80003 · 1bd/1ba · $254,000
List Price
$254,000
Assumable Rate
3.31%
Remaining Balance
$223,421
Equity Gap
$30,579
Loan Type
VAAdjust Your Scenario
$12,700
$12,700$30,579
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,525/moAssumable @ 3.31% + gap loan
$1,105/moAssumed loan: $980/mo
Gap financing: $125/mo
$420less per month with the assumable
Your Savings on This Property
5690 80th Place, Arvada · 3.31% VA vs 6.5% conventional
$420
per month
$5,045
per year
$151,363
over 30 years
$151,363
interest saved
How gap financing works: The equity gap ($30,579) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,700, 5% of purchase price) and a second mortgage for the rest ($17,879 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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