Loan Comparison: 3.31% vs 6.5%
8825 Chipita Park Road, Cascade, CO 80809 · 5bd/4ba · $1,350,000
List Price
$1,350,000
Assumable Rate
3.31%
Remaining Balance
$392,336
Equity Gap
$957,664
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$957,664
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 3.31% + gap loan
$7,945/moAssumed loan: $1,720/mo
Gap financing: $6,224/mo
$162less per month with the assumable
Your Savings on This Property
8825 Chipita Park Road, Cascade · 3.31% VA vs 6.5% conventional
$162
per month
$1,940
per year
$58,212
over 30 years
$58,212
interest saved
How gap financing works: The equity gap ($957,664) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($67,500, 5% of purchase price) and a second mortgage for the rest ($890,164 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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