Loan Comparison: 2.83% vs 6.5%
6808 Bethany, Parker, CO 80138 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
2.83%
Remaining Balance
$350,003
Equity Gap
$148,183
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$148,183
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.83% + gap loan
$2,391/moAssumed loan: $1,444/mo
Gap financing: $948/mo
$605less per month with the assumable
Your Savings on This Property
6808 Bethany, Parker · 2.83% VA vs 6.5% conventional
$605
per month
$7,260
per year
$217,812
over 30 years
$216,998
interest saved
How gap financing works: The equity gap ($148,183) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($123,233 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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