Loan Comparison: 3.44% vs 6.5%
12734 Leyden Street, Thornton, CO 80602 · 4bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.44%
Remaining Balance
$212,513
Equity Gap
$202,486
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$202,486
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.44% + gap loan
$2,218/moAssumed loan: $947/mo
Gap financing: $1,271/mo
$274less per month with the assumable
Your Savings on This Property
12734 Leyden Street, Thornton · 3.44% VA vs 6.5% conventional
$274
per month
$3,288
per year
$98,650
over 30 years
$98,649
interest saved
How gap financing works: The equity gap ($202,486) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($181,736 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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