Loan Comparison: 2.83% vs 6.5%
2613 Fernwood, Broomfield, CO 80020 · 3bd/3ba · $599,900
List Price
$599,900
Assumable Rate
2.83%
Remaining Balance
$432,282
Equity Gap
$167,618
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$167,618
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 2.83% + gap loan
$2,841/moAssumed loan: $1,783/mo
Gap financing: $1,058/mo
$761less per month with the assumable
Your Savings on This Property
2613 Fernwood, Broomfield · 2.83% VA vs 6.5% conventional
$761
per month
$9,130
per year
$273,910
over 30 years
$273,910
interest saved
How gap financing works: The equity gap ($167,618) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($137,623 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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