Loan Comparison: 3.75% vs 6.5%
1288 Cherrywood Drive, Brighton, CO 80601 · 4bd/2ba · $580,000
List Price
$580,000
Assumable Rate
3.75%
Remaining Balance
$227,335
Equity Gap
$352,665
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$352,665
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 3.75% + gap loan
$3,316/moAssumed loan: $1,053/mo
Gap financing: $2,263/mo
$167less per month with the assumable
Your Savings on This Property
1288 Cherrywood Drive, Brighton · 3.75% VA vs 6.5% conventional
$167
per month
$2,001
per year
$60,033
over 30 years
$60,033
interest saved
How gap financing works: The equity gap ($352,665) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($323,665 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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