Loan Comparison: 3.47% vs 6.5%
8952 Fox Drive, Thornton, CO 80260 · 1bd/1ba · $359,900
List Price
$359,900
Assumable Rate
3.47%
Remaining Balance
$223,747
Equity Gap
$136,152
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$136,152
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.47% + gap loan
$1,827/moAssumed loan: $1,001/mo
Gap financing: $826/mo
$334less per month with the assumable
Your Savings on This Property
8952 Fox Drive, Thornton · 3.47% VA vs 6.5% conventional
$334
per month
$4,007
per year
$120,211
over 30 years
$120,210
interest saved
How gap financing works: The equity gap ($136,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($118,157 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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