Loan Comparison: 3.57% vs 6.5%
4664 Simms, Wheat Ridge, CO 80033 · 6bd/3ba · $750,000
List Price
$750,000
Assumable Rate
3.57%
Remaining Balance
$114,784
Equity Gap
$634,810
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$634,810
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (VA)
Blended Rate: 7.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.57% + gap loan
$5,113/moAssumed loan: $520/mo
Gap financing: $4,593/mo
Your Savings on This Property
4664 Simms, Wheat Ridge · 3.57% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($634,810) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($597,310 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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