Loan Comparison: 3.16% vs 6.5%
13803 Legend, Broomfield, CO 80023 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
3.16%
Remaining Balance
$330,816
Equity Gap
$163,436
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$163,436
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.16% + gap loan
$2,490/moAssumed loan: $1,423/mo
Gap financing: $1,066/mo
$482less per month with the assumable
Your Savings on This Property
13803 Legend, Broomfield · 3.16% VA vs 6.5% conventional
$482
per month
$5,790
per year
$173,694
over 30 years
$172,946
interest saved
How gap financing works: The equity gap ($163,436) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($138,686 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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