Loan Comparison: 3.47% vs 6.5%
2720 Bridle, Mead, CO 80542 · 5bd/4ba · $640,000
List Price
$640,000
Assumable Rate
3.47%
Remaining Balance
$311,074
Equity Gap
$330,619
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$330,619
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.47% + gap loan
$3,688/moAssumed loan: $1,392/mo
Gap financing: $2,296/mo
$155less per month with the assumable
Your Savings on This Property
2720 Bridle, Mead · 3.47% VA vs 6.5% conventional
$155
per month
$1,862
per year
$55,870
over 30 years
$57,563
interest saved
How gap financing works: The equity gap ($330,619) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($298,619 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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