Loan Comparison: 3.31% vs 6.5%
5366 Allison, Arvada, CO 80002 · 2bd/4ba · $515,000
List Price
$515,000
Assumable Rate
3.31%
Remaining Balance
$323,292
Equity Gap
$191,708
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$191,708
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.31% + gap loan
$2,694/moAssumed loan: $1,418/mo
Gap financing: $1,276/mo
$399less per month with the assumable
Your Savings on This Property
5366 Allison, Arvada · 3.31% VA vs 6.5% conventional
$399
per month
$4,784
per year
$143,519
over 30 years
$143,519
interest saved
How gap financing works: The equity gap ($191,708) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($165,958 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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