Loan Comparison: 3.31% vs 6.5%
68 6th, Brighton, CO 80601 · 4bd/2ba · $500,000
List Price
$500,000
Assumable Rate
3.31%
Remaining Balance
$218,990
Equity Gap
$281,010
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$281,010
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.31% + gap loan
$2,929/moAssumed loan: $960/mo
Gap financing: $1,968/mo
$74less per month with the assumable
Your Savings on This Property
68 6th, Brighton · 3.31% VA vs 6.5% conventional
$74
per month
$883
per year
$26,476
over 30 years
$26,476
interest saved
How gap financing works: The equity gap ($281,010) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($256,010 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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