Loan Comparison: 2.88% vs 6.5%
5124 Chicory, Brighton, CO 80601 · 3bd/3ba · $554,500
List Price
$554,500
Assumable Rate
2.88%
Remaining Balance
$515,030
Equity Gap
$37,193
Loan Type
VAAdjust Your Scenario
$27,725
$27,725$37,193
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 2.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,330/moAssumable @ 2.88% + gap loan
$2,211/moAssumed loan: $2,138/mo
Gap financing: $73/mo
$1,119less per month with the assumable
Your Savings on This Property
5124 Chicory, Brighton · 2.88% VA vs 6.5% conventional
$1,119
per month
$13,423
per year
$402,688
over 30 years
$400,411
interest saved
How gap financing works: The equity gap ($37,193) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,725, 5% of purchase price) and a second mortgage for the rest ($9,468 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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