Loan Comparison: 3.02% vs 6.5%
4969 Spinning Wheel Drive, Brighton, CO 80601 · 3bd/3ba · $489,900
List Price
$489,900
Assumable Rate
3.02%
Remaining Balance
$266,468
Equity Gap
$223,431
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$223,431
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.02% + gap loan
$2,517/moAssumed loan: $1,126/mo
Gap financing: $1,391/mo
$424less per month with the assumable
Your Savings on This Property
4969 Spinning Wheel Drive, Brighton · 3.02% VA vs 6.5% conventional
$424
per month
$5,092
per year
$152,773
over 30 years
$152,772
interest saved
How gap financing works: The equity gap ($223,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($198,936 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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