Loan Comparison: 3.1% vs 6.5%
1929 Covered Bridge Parkway, Windsor, CO 80550 · 3bd/3ba · $795,000
List Price
$795,000
Assumable Rate
3.1%
Remaining Balance
$409,883
Equity Gap
$385,117
Loan Type
VAAdjust Your Scenario
$39,750
$39,750$385,117
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 3.1% + gap loan
$4,165/moAssumed loan: $1,750/mo
Gap financing: $2,415/mo
$609less per month with the assumable
Your Savings on This Property
1929 Covered Bridge Parkway, Windsor · 3.1% VA vs 6.5% conventional
$609
per month
$7,303
per year
$219,085
over 30 years
$219,085
interest saved
How gap financing works: The equity gap ($385,117) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($345,367 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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