Loan Comparison: 2.96% vs 6.5%
15550 Flower Mound, Parker, CO 80134 · 4bd/4ba · $815,000
List Price
$815,000
Assumable Rate
2.96%
Remaining Balance
$424,473
Equity Gap
$389,586
Loan Type
VAAdjust Your Scenario
$40,750
$40,750$389,586
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,894/moAssumable @ 2.96% + gap loan
$4,463/moAssumed loan: $1,780/mo
Gap financing: $2,682/mo
$431less per month with the assumable
Your Savings on This Property
15550 Flower Mound, Parker · 2.96% VA vs 6.5% conventional
$431
per month
$5,173
per year
$155,192
over 30 years
$154,251
interest saved
How gap financing works: The equity gap ($389,586) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,750, 5% of purchase price) and a second mortgage for the rest ($348,836 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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