Loan Comparison: 2.83% vs 6.5%
16284 Alberta, Parker, CO 80134 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
2.83%
Remaining Balance
$352,770
Equity Gap
$275,593
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$275,593
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 2.83% + gap loan
$3,332/moAssumed loan: $1,455/mo
Gap financing: $1,877/mo
$451less per month with the assumable
Your Savings on This Property
16284 Alberta, Parker · 2.83% VA vs 6.5% conventional
$451
per month
$5,411
per year
$162,331
over 30 years
$160,694
interest saved
How gap financing works: The equity gap ($275,593) 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 ($244,093 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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