Loan Comparison: 3.04% vs 6.5%
8404 Snaffle Bit, Littleton, CO 80125 · 5bd/4ba · $830,000
List Price
$830,000
Assumable Rate
3.04%
Remaining Balance
$559,256
Equity Gap
$270,744
Loan Type
VAAdjust Your Scenario
$41,500
$41,500$270,744
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,984/moAssumable @ 3.04% + gap loan
$4,133/moAssumed loan: $2,370/mo
Gap financing: $1,763/mo
$851less per month with the assumable
Your Savings on This Property
8404 Snaffle Bit, Littleton · 3.04% VA vs 6.5% conventional
$851
per month
$10,215
per year
$306,447
over 30 years
$306,447
interest saved
How gap financing works: The equity gap ($270,744) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,500, 5% of purchase price) and a second mortgage for the rest ($229,244 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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