Loan Comparison: 2.98% vs 6.5%
12340 51st, Wheat Ridge, CO 80033 · 2bd/3ba · $570,000
List Price
$570,000
Assumable Rate
2.98%
Remaining Balance
$373,759
Equity Gap
$195,426
Loan Type
VAAdjust Your Scenario
$28,500
$28,500$195,426
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 2.98% + gap loan
$2,855/moAssumed loan: $1,572/mo
Gap financing: $1,284/mo
$567less per month with the assumable
Your Savings on This Property
12340 51st, Wheat Ridge · 2.98% VA vs 6.5% conventional
$567
per month
$6,809
per year
$204,256
over 30 years
$203,441
interest saved
How gap financing works: The equity gap ($195,426) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($166,926 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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