Loan Comparison: 3.62% vs 6.5%
5315 Best, Larkspur, CO 80118 · 4bd/4ba · $1,150,000
List Price
$1,150,000
Assumable Rate
3.62%
Remaining Balance
$660,147
Equity Gap
$486,966
Loan Type
VAAdjust Your Scenario
$57,500
$57,500$486,966
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,905/moAssumable @ 3.62% + gap loan
$6,311/moAssumed loan: $3,009/mo
Gap financing: $3,302/mo
$594less per month with the assumable
Your Savings on This Property
5315 Best, Larkspur · 3.62% VA vs 6.5% conventional
$594
per month
$7,132
per year
$213,973
over 30 years
$211,086
interest saved
How gap financing works: The equity gap ($486,966) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,500, 5% of purchase price) and a second mortgage for the rest ($429,466 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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