Loan Comparison: 2.83% vs 6.5%
7413 Ellingwood, Frederick, CO 80504 · 3bd/2ba · $485,000
List Price
$485,000
Assumable Rate
2.83%
Remaining Balance
$294,739
Equity Gap
$190,260
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$190,260
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.83% + gap loan
$2,492/moAssumed loan: $1,216/mo
Gap financing: $1,276/mo
$420less per month with the assumable
Your Savings on This Property
7413 Ellingwood, Frederick · 2.83% VA vs 6.5% conventional
$420
per month
$5,040
per year
$151,203
over 30 years
$151,202
interest saved
How gap financing works: The equity gap ($190,260) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($166,010 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.
🏠
Back to This Listing
View photos, details, and request a showing for 7413 Ellingwood.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.