Loan Comparison: 2.68% vs 6.5%
12175 Cherrywood Street, Broomfield, CO 80020 · 3bd/2ba · $589,900
List Price
$589,900
Assumable Rate
2.68%
Remaining Balance
$281,909
Equity Gap
$307,991
Loan Type
VAAdjust Your Scenario
$29,495
$29,495$307,991
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 2.68% + gap loan
$3,088/moAssumed loan: $1,140/mo
Gap financing: $1,947/mo
$454less per month with the assumable
Your Savings on This Property
12175 Cherrywood Street, Broomfield · 2.68% VA vs 6.5% conventional
$454
per month
$5,453
per year
$163,589
over 30 years
$163,589
interest saved
How gap financing works: The equity gap ($307,991) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,495, 5% of purchase price) and a second mortgage for the rest ($278,496 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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