Loan Comparison: 2.77% vs 6.5%
5316 Bowersox, Firestone, CO 80504 · 3bd/3ba · $549,000
List Price
$549,000
Assumable Rate
2.77%
Remaining Balance
$398,381
Equity Gap
$151,541
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$151,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.77% + gap loan
$2,585/moAssumed loan: $1,631/mo
Gap financing: $954/mo
$712less per month with the assumable
Your Savings on This Property
5316 Bowersox, Firestone · 2.77% VA vs 6.5% conventional
$712
per month
$8,542
per year
$256,255
over 30 years
$257,177
interest saved
How gap financing works: The equity gap ($151,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($124,091 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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