Loan Comparison: 3.42% vs 6.5%
6260 121st Drive, Brighton, CO 80601 · 2bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.42%
Remaining Balance
$241,275
Equity Gap
$278,724
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$278,724
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.42% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.42% + gap loan
$2,840/moAssumed loan: $1,073/mo
Gap financing: $1,767/mo
$283less per month with the assumable
Your Savings on This Property
6260 121st Drive, Brighton · 3.42% VA vs 6.5% conventional
$283
per month
$3,392
per year
$101,753
over 30 years
$101,752
interest saved
How gap financing works: The equity gap ($278,724) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($252,724 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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