Loan Comparison: 6.17% vs 6.5%
2900 Purcell Street, Brighton, CO 80601 · 4bd/4ba · $315,000
List Price
$315,000
Assumable Rate
6.17%
Remaining Balance
$286,007
Equity Gap
$28,993
Loan Type
VAAdjust Your Scenario
$15,750
$15,750$28,993
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.17% (VA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 6.17% + gap loan
$1,839/moAssumed loan: $1,746/mo
Gap financing: $93/mo
$53less per month with the assumable
Your Savings on This Property
2900 Purcell Street, Brighton · 6.17% VA vs 6.5% conventional
$53
per month
$633
per year
$18,981
over 30 years
$18,981
interest saved
How gap financing works: The equity gap ($28,993) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($13,243 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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