Loan Comparison: 2.89% vs 6.5%
887 96th, Thornton, CO 80260 · 4bd/2ba · $527,000
List Price
$527,000
Assumable Rate
2.89%
Remaining Balance
$361,652
Equity Gap
$166,183
Loan Type
VAAdjust Your Scenario
$26,350
$26,350$166,183
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,164/moAssumable @ 2.89% + gap loan
$2,579/moAssumed loan: $1,503/mo
Gap financing: $1,075/mo
$586less per month with the assumable
Your Savings on This Property
887 96th, Thornton · 2.89% VA vs 6.5% conventional
$586
per month
$7,031
per year
$210,919
over 30 years
$211,754
interest saved
How gap financing works: The equity gap ($166,183) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,350, 5% of purchase price) and a second mortgage for the rest ($139,833 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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