Loan Comparison: 3.45% vs 6.5%
489 Longspur Drive, Brighton, CO 80601 · 4bd/4ba · $549,000
List Price
$549,000
Assumable Rate
3.45%
Remaining Balance
$493,985
Equity Gap
$55,015
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$55,015
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 3.45% + gap loan
$2,397/moAssumed loan: $2,204/mo
Gap financing: $193/mo
$899less per month with the assumable
Your Savings on This Property
489 Longspur Drive, Brighton · 3.45% VA vs 6.5% conventional
$899
per month
$10,792
per year
$323,771
over 30 years
$323,771
interest saved
How gap financing works: The equity gap ($55,015) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($27,565 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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