Loan Comparison: 2.83% vs 6.5%
11335 Franklin, Northglenn, CO 80233 · 5bd/2ba · $485,000
List Price
$485,000
Assumable Rate
2.83%
Remaining Balance
$269,620
Equity Gap
$215,379
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$215,379
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.83% + gap loan
$2,582/moAssumed loan: $1,112/mo
Gap financing: $1,470/mo
$330less per month with the assumable
Your Savings on This Property
11335 Franklin, Northglenn · 2.83% VA vs 6.5% conventional
$330
per month
$3,966
per year
$118,972
over 30 years
$118,971
interest saved
How gap financing works: The equity gap ($215,379) 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 ($191,129 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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