Loan Comparison: 2.83% vs 6.5%
3814 Hackberry, Wellington, CO 80549 · 3bd/2ba · $460,000
List Price
$460,000
Assumable Rate
2.83%
Remaining Balance
$330,974
Equity Gap
$129,789
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$129,789
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.83% + gap loan
$2,186/moAssumed loan: $1,365/mo
Gap financing: $821/mo
$576less per month with the assumable
Your Savings on This Property
3814 Hackberry, Wellington · 2.83% VA vs 6.5% conventional
$576
per month
$6,909
per year
$207,282
over 30 years
$208,045
interest saved
How gap financing works: The equity gap ($129,789) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($106,789 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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