Loan Comparison: 2.89% vs 6.5%
6715 134th Avenue, Thornton, CO 80602 · 4bd/3ba · $820,000
List Price
$820,000
Assumable Rate
2.89%
Remaining Balance
$459,829
Equity Gap
$360,170
Loan Type
VAAdjust Your Scenario
$41,000
$41,000$360,170
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,924/moAssumable @ 2.89% + gap loan
$4,143/moAssumed loan: $1,911/mo
Gap financing: $2,232/mo
$781less per month with the assumable
Your Savings on This Property
6715 134th Avenue, Thornton · 2.89% VA vs 6.5% conventional
$781
per month
$9,368
per year
$281,031
over 30 years
$281,030
interest saved
How gap financing works: The equity gap ($360,170) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,000, 5% of purchase price) and a second mortgage for the rest ($319,170 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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