Loan Comparison: 7.23% vs 6.5%
15774 Spruce Street, Thornton, CO 80602 · 3bd/2ba · $1,054,000
List Price
$1,054,000
Assumable Rate
7.23%
Remaining Balance
$851,792
Equity Gap
$202,208
Loan Type
VAAdjust Your Scenario
$52,700
$52,700$202,208
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.23% (VA)
Blended Rate: 7.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,329/moAssumable @ 7.23% + gap loan
$6,845/moAssumed loan: $5,799/mo
Gap financing: $1,045/mo
Your Savings on This Property
15774 Spruce Street, Thornton · 7.23% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($202,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,700, 5% of purchase price) and a second mortgage for the rest ($149,508 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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