Loan Comparison: 3.45% vs 6.5%
2342 161st, Thornton, CO 80602 · 5bd/5ba · $769,900
List Price
$769,900
Assumable Rate
3.45%
Remaining Balance
$448,304
Equity Gap
$319,630
Loan Type
VAAdjust Your Scenario
$38,495
$38,495$319,630
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,623/moAssumable @ 3.45% + gap loan
$4,162/moAssumed loan: $2,001/mo
Gap financing: $2,162/mo
$461less per month with the assumable
Your Savings on This Property
2342 161st, Thornton · 3.45% VA vs 6.5% conventional
$461
per month
$5,528
per year
$165,851
over 30 years
$163,885
interest saved
How gap financing works: The equity gap ($319,630) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,495, 5% of purchase price) and a second mortgage for the rest ($281,135 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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