Loan Comparison: 3.72% vs 6.5%
10088 Elizabeth, Thornton, CO 80229 · 4bd/2ba · $505,000
List Price
$505,000
Assumable Rate
3.72%
Remaining Balance
$354,115
Equity Gap
$186,676
Loan Type
VAAdjust Your Scenario
$25,250
$25,250$186,676
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.72% + gap loan
$2,875/moAssumed loan: $1,634/mo
Gap financing: $1,241/mo
$157less per month with the assumable
Your Savings on This Property
10088 Elizabeth, Thornton · 3.72% VA vs 6.5% conventional
$157
per month
$1,886
per year
$56,585
over 30 years
$92,376
interest saved
How gap financing works: The equity gap ($186,676) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($161,426 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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