Loan Comparison: 2.89% vs 6.5%
18505 Clovenhoof, Palmer Lake, CO 80133 · 5bd/5ba · $1,300,000
List Price
$1,300,000
Assumable Rate
2.89%
Remaining Balance
$420,500
Equity Gap
$927,752
Loan Type
VAAdjust Your Scenario
$65,000
$65,000$927,752
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 6.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,806/moAssumable @ 2.89% + gap loan
$8,382/moAssumed loan: $1,748/mo
Gap financing: $6,634/mo
Your Savings on This Property
18505 Clovenhoof, Palmer Lake · 2.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($927,752) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($65,000, 5% of purchase price) and a second mortgage for the rest ($862,752 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.
🏠
Back to This Listing
View photos, details, and request a showing for 18505 Clovenhoof.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.