Loan Comparison: 4.3% vs 6.5%
603 Coyote, Elizabeth, CO 80107 · 5bd/5ba · $1,250,000
List Price
$1,250,000
Assumable Rate
4.3%
Remaining Balance
$555,314
Equity Gap
$896,399
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$896,399
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.3% (VA)
Blended Rate: 6.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 4.3% + gap loan
$9,160/moAssumed loan: $2,748/mo
Gap financing: $6,412/mo
Your Savings on This Property
603 Coyote, Elizabeth · 4.3% 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 ($896,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($833,899 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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