Loan Comparison: 3.51% vs 6.5%
482 Spruce, Louisville, CO 80027 · 5bd/4ba · $2,600,000
List Price
$2,600,000
Assumable Rate
3.51%
Remaining Balance
$987,532
Equity Gap
$1,612,467
Loan Type
VAAdjust Your Scenario
$130,000
$130,000$1,612,467
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$15,612/moAssumable @ 3.51% + gap loan
$15,839/moAssumed loan: $4,440/mo
Gap financing: $11,399/mo
Your Savings on This Property
482 Spruce, Louisville · 3.51% 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 ($1,612,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($130,000, 5% of purchase price) and a second mortgage for the rest ($1,482,467 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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