Loan Comparison: 3.1% vs 6.5%
6759 Rainier, Timnath, CO 80547 · 4bd/3ba · $619,000
List Price
$619,000
Assumable Rate
3.1%
Remaining Balance
$388,414
Equity Gap
$229,776
Loan Type
VAAdjust Your Scenario
$30,950
$30,950$229,776
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,717/moAssumable @ 3.1% + gap loan
$3,187/moAssumed loan: $1,659/mo
Gap financing: $1,529/mo
$529less per month with the assumable
Your Savings on This Property
6759 Rainier, Timnath · 3.1% VA vs 6.5% conventional
$529
per month
$6,354
per year
$190,614
over 30 years
$189,804
interest saved
How gap financing works: The equity gap ($229,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,950, 5% of purchase price) and a second mortgage for the rest ($198,826 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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