Loan Comparison: 2.97% vs 6.5%
3349 Cranston, Highlands Ranch, CO 80126 · 3bd/4ba · $660,000
List Price
$660,000
Assumable Rate
2.97%
Remaining Balance
$361,212
Equity Gap
$300,488
Loan Type
VAAdjust Your Scenario
$33,000
$33,000$300,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 2.97% + gap loan
$3,574/moAssumed loan: $1,517/mo
Gap financing: $2,057/mo
$389less per month with the assumable
Your Savings on This Property
3349 Cranston, Highlands Ranch · 2.97% VA vs 6.5% conventional
$389
per month
$4,671
per year
$140,137
over 30 years
$141,837
interest saved
How gap financing works: The equity gap ($300,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($267,488 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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