Loan Comparison: 4.17% vs 6.5%
2398 Pineywoods, Mead, CO 80542 · 5bd/3ba · $635,000
List Price
$635,000
Assumable Rate
4.17%
Remaining Balance
$594,573
Equity Gap
$40,427
Loan Type
VAAdjust Your Scenario
$31,750
$31,750$40,427
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 4.17% + gap loan
$2,964/moAssumed loan: $2,897/mo
Gap financing: $67/mo
$849less per month with the assumable
Your Savings on This Property
2398 Pineywoods, Mead · 4.17% VA vs 6.5% conventional
$849
per month
$10,189
per year
$305,665
over 30 years
$305,665
interest saved
How gap financing works: The equity gap ($40,427) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($8,677 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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