Loan Comparison: 3.16% vs 6.5%
16224 Quarry Hill, Parker, CO 80134 · 4bd/3ba · $590,000
List Price
$590,000
Assumable Rate
3.16%
Remaining Balance
$412,587
Equity Gap
$174,620
Loan Type
VAAdjust Your Scenario
$29,500
$29,500$174,620
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3.16% + gap loan
$2,891/moAssumed loan: $1,775/mo
Gap financing: $1,116/mo
$652less per month with the assumable
Your Savings on This Property
16224 Quarry Hill, Parker · 3.16% VA vs 6.5% conventional
$652
per month
$7,819
per year
$234,578
over 30 years
$231,785
interest saved
How gap financing works: The equity gap ($174,620) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($145,120 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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