Loan Comparison: 3.47% vs 6.5%
10716 Steele, Northglenn, CO 80233 · 5bd/4ba · $525,000
List Price
$525,000
Assumable Rate
3.47%
Remaining Balance
$258,669
Equity Gap
$265,758
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$265,758
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.47% + gap loan
$2,999/moAssumed loan: $1,157/mo
Gap financing: $1,842/mo
$154less per month with the assumable
Your Savings on This Property
10716 Steele, Northglenn · 3.47% VA vs 6.5% conventional
$154
per month
$1,843
per year
$55,302
over 30 years
$54,729
interest saved
How gap financing works: The equity gap ($265,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($239,508 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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