Loan Comparison: 3.05% vs 6.5%
3690 Gray Street, Wheat Ridge, CO 80005 · 2bd/2ba · $725,000
List Price
$725,000
Assumable Rate
3.05%
Remaining Balance
$484,605
Equity Gap
$240,394
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$240,394
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 3.05% + gap loan
$3,484/moAssumed loan: $2,056/mo
Gap financing: $1,427/mo
$870less per month with the assumable
Your Savings on This Property
3690 Gray Street, Wheat Ridge · 3.05% VA vs 6.5% conventional
$870
per month
$10,437
per year
$313,113
over 30 years
$313,112
interest saved
How gap financing works: The equity gap ($240,394) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($204,144 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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