Loan Comparison: 2.88% vs 6.5%
5124 Chicory, Brighton, CO 80601 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.88%
Remaining Balance
$513,888
Equity Gap
$32,693
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$32,693
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 2.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.88% + gap loan
$2,173/moAssumed loan: $2,133/mo
Gap financing: $40/mo
$1,129less per month with the assumable
Your Savings on This Property
5124 Chicory, Brighton · 2.88% VA vs 6.5% conventional
$1,129
per month
$13,550
per year
$406,501
over 30 years
$403,082
interest saved
How gap financing works: The equity gap ($32,693) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($5,193 at 8.5%). 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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