Loan Comparison: 2.88% vs 6.5%
674 Bear Peak, Erie, CO 80516 · 3bd/3ba · $740,000
List Price
$740,000
Assumable Rate
2.88%
Remaining Balance
$501,630
Equity Gap
$238,370
Loan Type
VAAdjust Your Scenario
$37,000
$37,000$238,370
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 2.88% + gap loan
$3,631/moAssumed loan: $2,083/mo
Gap financing: $1,548/mo
$813less per month with the assumable
Your Savings on This Property
674 Bear Peak, Erie · 2.88% VA vs 6.5% conventional
$813
per month
$9,750
per year
$292,504
over 30 years
$292,504
interest saved
How gap financing works: The equity gap ($238,370) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,000, 5% of purchase price) and a second mortgage for the rest ($201,370 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.
🏠
Back to This Listing
View photos, details, and request a showing for 674 Bear Peak.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.