Loan Comparison: 2.27% vs 6.5%
5243 119th, Thornton, CO 80233 · 2bd/2ba · $439,900
List Price
$439,900
Assumable Rate
2.27%
Remaining Balance
$270,169
Equity Gap
$169,730
Loan Type
VAAdjust Your Scenario
$21,995
$21,995$169,730
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.27% (VA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,641/moAssumable @ 2.27% + gap loan
$2,171/moAssumed loan: $1,035/mo
Gap financing: $1,136/mo
$470less per month with the assumable
Your Savings on This Property
5243 119th, Thornton · 2.27% VA vs 6.5% conventional
$470
per month
$5,640
per year
$169,208
over 30 years
$169,207
interest saved
How gap financing works: The equity gap ($169,730) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,995, 5% of purchase price) and a second mortgage for the rest ($147,735 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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