Loan Comparison: 3.7% vs 6.5%
329 Chapel Hill Drive, Brighton, CO 80601 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.7%
Remaining Balance
$384,612
Equity Gap
$165,388
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$165,388
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.7% + gap loan
$2,734/moAssumed loan: $1,770/mo
Gap financing: $964/mo
$568less per month with the assumable
Your Savings on This Property
329 Chapel Hill Drive, Brighton · 3.7% VA vs 6.5% conventional
$568
per month
$6,817
per year
$204,523
over 30 years
$204,523
interest saved
How gap financing works: The equity gap ($165,388) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($137,888 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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