Loan Comparison: 3.16% vs 6.5%
13405 21st Place, Golden, CO 80401 · 2bd/1ba · $750,000
List Price
$750,000
Assumable Rate
3.16%
Remaining Balance
$296,546
Equity Gap
$453,454
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$453,454
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.16% + gap loan
$4,184/moAssumed loan: $1,276/mo
Gap financing: $2,908/mo
$319less per month with the assumable
Your Savings on This Property
13405 21st Place, Golden · 3.16% VA vs 6.5% conventional
$319
per month
$3,829
per year
$114,872
over 30 years
$114,872
interest saved
How gap financing works: The equity gap ($453,454) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($415,954 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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