Loan Comparison: 2.24% vs 6.5%
6429 Devinney, Arvada, CO 80004 · 4bd/4ba · $699,000
List Price
$699,000
Assumable Rate
2.24%
Remaining Balance
$316,116
Equity Gap
$381,846
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$381,846
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.24% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.24% + gap loan
$3,874/moAssumed loan: $1,207/mo
Gap financing: $2,667/mo
$323less per month with the assumable
Your Savings on This Property
6429 Devinney, Arvada · 2.24% VA vs 6.5% conventional
$323
per month
$3,878
per year
$116,348
over 30 years
$115,310
interest saved
How gap financing works: The equity gap ($381,846) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($346,896 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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