Loan Comparison: 4% vs 6.5%
17671 Iron Ore, Parker, CO 80134 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
4%
Remaining Balance
$409,923
Equity Gap
$140,076
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$140,076
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4% + gap loan
$2,823/moAssumed loan: $1,957/mo
Gap financing: $866/mo
$480less per month with the assumable
Your Savings on This Property
17671 Iron Ore, Parker · 4% VA vs 6.5% conventional
$480
per month
$5,759
per year
$172,767
over 30 years
$172,766
interest saved
How gap financing works: The equity gap ($140,076) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($112,576 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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