Loan Comparison: 3.66% vs 6.5%
1527 French, Erie, CO 80516 · 4bd/4ba · $665,000
List Price
$665,000
Assumable Rate
3.66%
Remaining Balance
$225,365
Equity Gap
$440,892
Loan Type
VAAdjust Your Scenario
$33,250
$33,250$440,892
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (VA)
Blended Rate: 6.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3.66% + gap loan
$4,167/moAssumed loan: $1,032/mo
Gap financing: $3,134/mo
Your Savings on This Property
1527 French, Erie · 3.66% 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 ($440,892) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,250, 5% of purchase price) and a second mortgage for the rest ($407,642 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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