Loan Comparison: 5.52% vs 6.5%
342 Cade Street, Brighton, CO 80602 · 6bd/5ba · $605,000
List Price
$605,000
Assumable Rate
5.52%
Remaining Balance
$562,507
Equity Gap
$42,493
Loan Type
VAAdjust Your Scenario
$30,250
$30,250$42,493
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,633/moAssumable @ 5.52% + gap loan
$3,287/moAssumed loan: $3,201/mo
Gap financing: $86/mo
$346less per month with the assumable
Your Savings on This Property
342 Cade Street, Brighton · 5.52% VA vs 6.5% conventional
$346
per month
$4,155
per year
$124,665
over 30 years
$124,665
interest saved
How gap financing works: The equity gap ($42,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,250, 5% of purchase price) and a second mortgage for the rest ($12,243 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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