Loan Comparison: 3.77% vs 6.5%
3173 Farmdale, Englewood, CO 80110 · 5bd/2ba · $525,000
List Price
$525,000
Assumable Rate
3.77%
Remaining Balance
$284,650
Equity Gap
$239,597
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$239,597
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.77% + gap loan
$2,962/moAssumed loan: $1,321/mo
Gap financing: $1,640/mo
$190less per month with the assumable
Your Savings on This Property
3173 Farmdale, Englewood · 3.77% VA vs 6.5% conventional
$190
per month
$2,286
per year
$68,578
over 30 years
$67,825
interest saved
How gap financing works: The equity gap ($239,597) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($213,347 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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