Loan Comparison: 3.23% vs 6.5%
160 15th Avdr, Brighton, CO 80601 · 4bd/2ba · $460,000
List Price
$460,000
Assumable Rate
3.23%
Remaining Balance
$193,829
Equity Gap
$266,170
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$266,170
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.23% + gap loan
$2,711/moAssumed loan: $841/mo
Gap financing: $1,870/mo
$51less per month with the assumable
Your Savings on This Property
160 15th Avdr, Brighton · 3.23% VA vs 6.5% conventional
$51
per month
$611
per year
$18,339
over 30 years
$18,338
interest saved
How gap financing works: The equity gap ($266,170) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($243,170 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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