Loan Comparison: 2.77% vs 6.5%
2037 Tundra, Erie, CO 80516 · 5bd/4ba · $679,900
List Price
$679,900
Assumable Rate
2.77%
Remaining Balance
$474,302
Equity Gap
$205,597
Loan Type
VAAdjust Your Scenario
$33,995
$33,995$205,597
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 2.77% + gap loan
$3,261/moAssumed loan: $1,941/mo
Gap financing: $1,319/mo
$822less per month with the assumable
Your Savings on This Property
2037 Tundra, Erie · 2.77% VA vs 6.5% conventional
$822
per month
$9,861
per year
$295,835
over 30 years
$295,834
interest saved
How gap financing works: The equity gap ($205,597) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,995, 5% of purchase price) and a second mortgage for the rest ($171,602 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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