Loan Comparison: 2.9% vs 6.5%
16604 Hollow Horn, Parker, CO 80134 · 4bd/3ba · $584,900
List Price
$584,900
Assumable Rate
2.9%
Remaining Balance
$464,045
Equity Gap
$117,791
Loan Type
VAAdjust Your Scenario
$29,245
$29,245$117,791
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,512/moAssumable @ 2.9% + gap loan
$2,612/moAssumed loan: $1,931/mo
Gap financing: $681/mo
$900less per month with the assumable
Your Savings on This Property
16604 Hollow Horn, Parker · 2.9% VA vs 6.5% conventional
$900
per month
$10,797
per year
$323,921
over 30 years
$320,857
interest saved
How gap financing works: The equity gap ($117,791) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,245, 5% of purchase price) and a second mortgage for the rest ($88,546 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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