Loan Comparison: 6.34% vs 6.5%
3657 Torch Lily Street, Wellington, CO 80549 · 3bd/2ba · $545,000
List Price
$545,000
Assumable Rate
6.34%
Remaining Balance
$459,167
Equity Gap
$85,832
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$85,832
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.34% (VA)
Blended Rate: 6.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 6.34% + gap loan
$3,264/moAssumed loan: $2,854/mo
Gap financing: $410/mo
$9less per month with the assumable
Your Savings on This Property
3657 Torch Lily Street, Wellington · 6.34% VA vs 6.5% conventional
$9
per month
$106
per year
$3,174
over 30 years
$3,173
interest saved
How gap financing works: The equity gap ($85,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($58,582 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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