Loan Comparison: 3.31% vs 6.5%
8417 Everett, Arvada, CO 80005 · 2bd/2ba · $369,000
List Price
$369,000
Assumable Rate
3.31%
Remaining Balance
$275,493
Equity Gap
$93,506
Loan Type
VAAdjust Your Scenario
$18,450
$18,450$93,506
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,216/moAssumable @ 3.31% + gap loan
$1,785/moAssumed loan: $1,208/mo
Gap financing: $577/mo
$431less per month with the assumable
Your Savings on This Property
8417 Everett, Arvada · 3.31% VA vs 6.5% conventional
$431
per month
$5,167
per year
$154,996
over 30 years
$154,995
interest saved
How gap financing works: The equity gap ($93,506) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,450, 5% of purchase price) and a second mortgage for the rest ($75,056 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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