Loan Comparison: 2.75% vs 6.5%
13105 Ivanhoe Street, Thornton, CO 80602 · 4bd/1ba · $499,000
List Price
$499,000
Assumable Rate
2.75%
Remaining Balance
$351,524
Equity Gap
$147,475
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$147,475
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.75% + gap loan
$2,292/moAssumed loan: $1,435/mo
Gap financing: $857/mo
$705less per month with the assumable
Your Savings on This Property
13105 Ivanhoe Street, Thornton · 2.75% VA vs 6.5% conventional
$705
per month
$8,454
per year
$253,634
over 30 years
$253,633
interest saved
How gap financing works: The equity gap ($147,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($122,525 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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