Loan Comparison: 3.1% vs 6.5%
6759 Rainier, Timnath, CO 80547 · 4bd/3ba · $649,000
List Price
$649,000
Assumable Rate
3.1%
Remaining Balance
$390,031
Equity Gap
$259,776
Loan Type
VAAdjust Your Scenario
$32,450
$32,450$259,776
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,897/moAssumable @ 3.1% + gap loan
$3,413/moAssumed loan: $1,665/mo
Gap financing: $1,748/mo
$484less per month with the assumable
Your Savings on This Property
6759 Rainier, Timnath · 3.1% VA vs 6.5% conventional
$484
per month
$5,803
per year
$174,088
over 30 years
$174,895
interest saved
How gap financing works: The equity gap ($259,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,450, 5% of purchase price) and a second mortgage for the rest ($227,326 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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