Loan Comparison: 3.45% vs 6.5%
404 10th, Gilcrest, CO 80623 · 2bd/1ba · $300,000
List Price
$300,000
Assumable Rate
3.45%
Remaining Balance
$276,770
Equity Gap
$23,230
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$23,230
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.45% + gap loan
$1,298/moAssumed loan: $1,235/mo
Gap financing: $63/mo
$503less per month with the assumable
Your Savings on This Property
404 10th, Gilcrest · 3.45% VA vs 6.5% conventional
$503
per month
$6,036
per year
$181,081
over 30 years
$181,081
interest saved
How gap financing works: The equity gap ($23,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($8,230 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.