Loan Comparison: 3.47% vs 6.5%
10716 Steele, Northglenn, CO 80233 · 5bd/4ba · $530,000
List Price
$530,000
Assumable Rate
3.47%
Remaining Balance
$318,670
Equity Gap
$270,758
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$270,758
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 3.47% + gap loan
$3,304/moAssumed loan: $1,426/mo
Gap financing: $1,878/mo
Your Savings on This Property
10716 Steele, Northglenn · 3.47% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$15,757
interest saved
How gap financing works: The equity gap ($270,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($244,258 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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