Loan Comparison: 3.31% vs 6.5%
8417 Everett, Arvada, CO 80005 · 2bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.31%
Remaining Balance
$275,494
Equity Gap
$99,506
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$99,506
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.31% + gap loan
$1,829/moAssumed loan: $1,208/mo
Gap financing: $621/mo
$423less per month with the assumable
Your Savings on This Property
8417 Everett, Arvada · 3.31% VA vs 6.5% conventional
$423
per month
$5,073
per year
$152,187
over 30 years
$152,187
interest saved
How gap financing works: The equity gap ($99,506) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($80,756 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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