Loan Comparison: 3.07% vs 6.5%
3583 141st, Thornton, CO 80602 · 4bd/3ba · $540,000
List Price
$540,000
Assumable Rate
3.07%
Remaining Balance
$291,435
Equity Gap
$247,329
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$247,329
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.07% + gap loan
$2,934/moAssumed loan: $1,240/mo
Gap financing: $1,694/mo
$309less per month with the assumable
Your Savings on This Property
3583 141st, Thornton · 3.07% VA vs 6.5% conventional
$309
per month
$3,704
per year
$111,110
over 30 years
$109,874
interest saved
How gap financing works: The equity gap ($247,329) 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 ($220,329 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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