Loan Comparison: 3.8% vs 6.5%
1288 Cherrywood, Brighton, CO 80601 · 3bd/3ba · $640,000
List Price
$640,000
Assumable Rate
3.8%
Remaining Balance
$230,149
Equity Gap
$410,357
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$410,357
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.8% + gap loan
$3,982/moAssumed loan: $1,072/mo
Gap financing: $2,909/mo
Your Savings on This Property
1288 Cherrywood, Brighton · 3.8% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($410,357) 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 ($378,357 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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