Loan Comparison: 2.83% vs 6.5%
730 Tenderfoot, Larkspur, CO 80118 · 5bd/4ba · $969,999
List Price
$969,999
Assumable Rate
2.83%
Remaining Balance
$352,334
Equity Gap
$615,227
Loan Type
VAAdjust Your Scenario
$48,500
$48,500$615,227
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,825/moAssumable @ 2.83% + gap loan
$5,811/moAssumed loan: $1,453/mo
Gap financing: $4,358/mo
$14less per month with the assumable
Your Savings on This Property
730 Tenderfoot, Larkspur · 2.83% VA vs 6.5% conventional
$14
per month
$162
per year
$4,865
over 30 years
$2,427
interest saved
How gap financing works: The equity gap ($615,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,500, 5% of purchase price) and a second mortgage for the rest ($566,727 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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