Loan Comparison: 3.47% vs 6.5%
2720 Bridle Drive, Mead, CO 80542 · 3bd/3ba · $539,000
List Price
$539,000
Assumable Rate
3.47%
Remaining Balance
$305,965
Equity Gap
$233,034
Loan Type
VAAdjust Your Scenario
$26,950
$26,950$233,034
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 3.47% + gap loan
$2,810/moAssumed loan: $1,369/mo
Gap financing: $1,441/mo
$427less per month with the assumable
Your Savings on This Property
2720 Bridle Drive, Mead · 3.47% VA vs 6.5% conventional
$427
per month
$5,121
per year
$153,624
over 30 years
$153,623
interest saved
How gap financing works: The equity gap ($233,034) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($206,084 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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