Loan Comparison: 3.69% vs 6.5%
10659 Upper Highland, Longmont, CO 80504 · 3bd/3ba · $420,000
List Price
$420,000
Assumable Rate
3.69%
Remaining Balance
$268,087
Equity Gap
$192,409
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$192,409
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.69% + gap loan
$2,550/moAssumed loan: $1,232/mo
Gap financing: $1,318/mo
Your Savings on This Property
10659 Upper Highland, Longmont · 3.69% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$30,244
interest saved
How gap financing works: The equity gap ($192,409) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($171,409 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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