Loan Comparison: 3.16% vs 6.5%
10915 Ebony, Firestone, CO 80504 · 3bd/3ba · $585,000
List Price
$585,000
Assumable Rate
3.16%
Remaining Balance
$289,859
Equity Gap
$296,445
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$296,445
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.16% + gap loan
$3,302/moAssumed loan: $1,247/mo
Gap financing: $2,054/mo
$211less per month with the assumable
Your Savings on This Property
10915 Ebony, Firestone · 3.16% VA vs 6.5% conventional
$211
per month
$2,532
per year
$75,963
over 30 years
$77,267
interest saved
How gap financing works: The equity gap ($296,445) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($267,195 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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