Loan Comparison: 2.98% vs 6.5%
12340 51st, Wheat Ridge, CO 80033 · 2bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.98%
Remaining Balance
$372,123
Equity Gap
$150,426
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$150,426
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.98% + gap loan
$2,520/moAssumed loan: $1,565/mo
Gap financing: $955/mo
$633less per month with the assumable
Your Savings on This Property
12340 51st, Wheat Ridge · 2.98% VA vs 6.5% conventional
$633
per month
$7,593
per year
$227,793
over 30 years
$225,342
interest saved
How gap financing works: The equity gap ($150,426) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($124,176 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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