Loan Comparison: 4.98% vs 6.5%
39149 Braxton, Elizabeth, CO 80107 · 3bd/3ba · $600,000
List Price
$600,000
Assumable Rate
4.98%
Remaining Balance
$508,891
Equity Gap
$91,109
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$91,109
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 4.98% + gap loan
$3,195/moAssumed loan: $2,726/mo
Gap financing: $470/mo
$407less per month with the assumable
Your Savings on This Property
39149 Braxton, Elizabeth · 4.98% VA vs 6.5% conventional
$407
per month
$4,888
per year
$146,625
over 30 years
$146,625
interest saved
How gap financing works: The equity gap ($91,109) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($61,109 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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