Loan Comparison: 3.45% vs 6.5%
690 Meadow, Palmer Lake, CO 80133 · 4bd/2ba · $415,000
List Price
$415,000
Assumable Rate
3.45%
Remaining Balance
$356,174
Equity Gap
$58,826
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$58,826
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.45% + gap loan
$1,882/moAssumed loan: $1,589/mo
Gap financing: $293/mo
$610less per month with the assumable
Your Savings on This Property
690 Meadow, Palmer Lake · 3.45% VA vs 6.5% conventional
$610
per month
$7,316
per year
$219,492
over 30 years
$219,492
interest saved
How gap financing works: The equity gap ($58,826) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($38,076 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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