Loan Comparison: 3.69% vs 6.5%
347 6th Avenue, Brighton, CO 80601 · 5bd/2ba · $475,000
List Price
$475,000
Assumable Rate
3.69%
Remaining Balance
$387,822
Equity Gap
$87,177
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$87,177
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.69% + gap loan
$2,226/moAssumed loan: $1,783/mo
Gap financing: $443/mo
$626less per month with the assumable
Your Savings on This Property
347 6th Avenue, Brighton · 3.69% VA vs 6.5% conventional
$626
per month
$7,510
per year
$225,299
over 30 years
$225,298
interest saved
How gap financing works: The equity gap ($87,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($63,427 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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