Loan Comparison: 6.24% vs 6.5%
543 Lost Lake Street, Brighton, CO 80601 · 4bd/2ba · $609,000
List Price
$609,000
Assumable Rate
6.24%
Remaining Balance
$539,172
Equity Gap
$69,828
Loan Type
VAAdjust Your Scenario
$30,450
$30,450$69,828
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.24% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,657/moAssumable @ 6.24% + gap loan
$3,592/moAssumed loan: $3,316/mo
Gap financing: $275/mo
$65less per month with the assumable
Your Savings on This Property
543 Lost Lake Street, Brighton · 6.24% VA vs 6.5% conventional
$65
per month
$783
per year
$23,481
over 30 years
$23,481
interest saved
How gap financing works: The equity gap ($69,828) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,450, 5% of purchase price) and a second mortgage for the rest ($39,378 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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