Loan Comparison: 3.45% vs 6.5%
677 Iris, Brighton, CO 80601 · 4bd/3ba · $645,000
List Price
$645,000
Assumable Rate
3.45%
Remaining Balance
$426,504
Equity Gap
$216,616
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$216,616
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 3.45% + gap loan
$3,321/moAssumed loan: $1,903/mo
Gap financing: $1,418/mo
$552less per month with the assumable
Your Savings on This Property
677 Iris, Brighton · 3.45% VA vs 6.5% conventional
$552
per month
$6,625
per year
$198,746
over 30 years
$196,866
interest saved
How gap financing works: The equity gap ($216,616) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($184,366 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.