Loan Comparison: 3.18% vs 6.5%
10430 Tercel Drive, Falcon, CO 80831 · 4bd/3ba · $1,250,000
List Price
$1,250,000
Assumable Rate
3.18%
Remaining Balance
$364,045
Equity Gap
$885,955
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$885,955
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 3.18% + gap loan
$7,328/moAssumed loan: $1,570/mo
Gap financing: $5,758/mo
$178less per month with the assumable
Your Savings on This Property
10430 Tercel Drive, Falcon · 3.18% VA vs 6.5% conventional
$178
per month
$2,132
per year
$63,971
over 30 years
$63,971
interest saved
How gap financing works: The equity gap ($885,955) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($823,455 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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