Loan Comparison: 3.62% vs 6.5%
5315 Best, Larkspur, CO 80118 · 4bd/4ba · $1,250,000
List Price
$1,250,000
Assumable Rate
3.62%
Remaining Balance
$663,033
Equity Gap
$586,966
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$586,966
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 3.62% + gap loan
$7,055/moAssumed loan: $3,022/mo
Gap financing: $4,033/mo
$451less per month with the assumable
Your Savings on This Property
5315 Best, Larkspur · 3.62% VA vs 6.5% conventional
$451
per month
$5,415
per year
$162,437
over 30 years
$162,436
interest saved
How gap financing works: The equity gap ($586,966) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($524,466 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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