Loan Comparison: 4.99% vs 6.5%
402 Highlands, Erie, CO 80516 · 5bd/4ba · $810,000
List Price
$810,000
Assumable Rate
4.99%
Remaining Balance
$759,792
Equity Gap
$51,354
Loan Type
VAAdjust Your Scenario
$40,500
$40,500$51,354
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,864/moAssumable @ 4.99% + gap loan
$4,158/moAssumed loan: $4,074/mo
Gap financing: $83/mo
$706less per month with the assumable
Your Savings on This Property
402 Highlands, Erie · 4.99% VA vs 6.5% conventional
$706
per month
$8,475
per year
$254,239
over 30 years
$255,385
interest saved
How gap financing works: The equity gap ($51,354) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,500, 5% of purchase price) and a second mortgage for the rest ($10,854 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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