Loan Comparison: 3.91% vs 6.5%
4345 Devinney Court, Morrison, CO 80465 · 1bd/1ba · $520,000
List Price
$520,000
Assumable Rate
3.91%
Remaining Balance
$152,644
Equity Gap
$367,356
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$367,356
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (VA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.91% + gap loan
$3,108/moAssumed loan: $721/mo
Gap financing: $2,387/mo
$15less per month with the assumable
Your Savings on This Property
4345 Devinney Court, Morrison · 3.91% VA vs 6.5% conventional
$15
per month
$177
per year
$5,313
over 30 years
$5,313
interest saved
How gap financing works: The equity gap ($367,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($341,356 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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