Loan Comparison: 2.75% vs 6.5%
311 Warwick, Frederick, CO 80530 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.75%
Remaining Balance
$217,313
Equity Gap
$297,438
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$297,438
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.75% + gap loan
$2,976/moAssumed loan: $887/mo
Gap financing: $2,089/mo
$116less per month with the assumable
Your Savings on This Property
311 Warwick, Frederick · 2.75% VA vs 6.5% conventional
$116
per month
$1,394
per year
$41,827
over 30 years
$41,578
interest saved
How gap financing works: The equity gap ($297,438) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($271,688 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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