Loan Comparison: 3.07% vs 6.5%
5574 Quarry, Timnath, CO 80547 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
3.07%
Remaining Balance
$449,001
Equity Gap
$256,966
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$256,966
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.07% + gap loan
$3,644/moAssumed loan: $1,910/mo
Gap financing: $1,734/mo
$139less per month with the assumable
Your Savings on This Property
5574 Quarry, Timnath · 3.07% VA vs 6.5% conventional
$139
per month
$1,671
per year
$50,144
over 30 years
$126,111
interest saved
How gap financing works: The equity gap ($256,966) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($225,466 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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