Loan Comparison: 4% vs 6.5%
17671 Iron Ore, Parker, CO 80134 · 3bd/3ba · $539,999
List Price
$539,999
Assumable Rate
4%
Remaining Balance
$409,117
Equity Gap
$130,881
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$130,881
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 4% + gap loan
$2,752/moAssumed loan: $1,953/mo
Gap financing: $799/mo
$491less per month with the assumable
Your Savings on This Property
17671 Iron Ore, Parker · 4% VA vs 6.5% conventional
$491
per month
$5,887
per year
$176,602
over 30 years
$176,601
interest saved
How gap financing works: The equity gap ($130,881) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($103,881 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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