Loan Comparison: 3.18% vs 6.5%
11918 Mountview, Broomfield, CO 80021 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
3.18%
Remaining Balance
$482,688
Equity Gap
$147,312
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$147,312
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.18% + gap loan
$2,973/moAssumed loan: $2,082/mo
Gap financing: $890/mo
$810less per month with the assumable
Your Savings on This Property
11918 Mountview, Broomfield · 3.18% VA vs 6.5% conventional
$810
per month
$9,723
per year
$291,688
over 30 years
$291,688
interest saved
How gap financing works: The equity gap ($147,312) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($115,812 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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