Loan Comparison: 2.96% vs 6.5%
4560 Washington, Englewood, CO 80113 · 3bd/1ba · $460,000
List Price
$460,000
Assumable Rate
2.96%
Remaining Balance
$140,351
Equity Gap
$319,956
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$319,956
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.96% + gap loan
$2,872/moAssumed loan: $589/mo
Gap financing: $2,283/mo
Your Savings on This Property
4560 Washington, Englewood · 2.96% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($319,956) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($296,956 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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