Loan Comparison: 4.07% vs 6.5%
861 Circle, Palmer Lake, CO 80133 · 4bd/4ba · $599,000
List Price
$599,000
Assumable Rate
4.07%
Remaining Balance
$295,434
Equity Gap
$303,566
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$303,566
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (VA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 4.07% + gap loan
$3,526/moAssumed loan: $1,422/mo
Gap financing: $2,104/mo
$71less per month with the assumable
Your Savings on This Property
861 Circle, Palmer Lake · 4.07% VA vs 6.5% conventional
$71
per month
$846
per year
$25,386
over 30 years
$25,386
interest saved
How gap financing works: The equity gap ($303,566) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($273,616 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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