Loan Comparison: 3.8% vs 6.5%
445 Hickory, Broomfield, CO 80020 · 5bd/3ba · $514,900
List Price
$514,900
Assumable Rate
3.8%
Remaining Balance
$296,168
Equity Gap
$218,732
Loan Type
VAAdjust Your Scenario
$25,745
$25,745$218,732
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.8% + gap loan
$2,864/moAssumed loan: $1,380/mo
Gap financing: $1,484/mo
$228less per month with the assumable
Your Savings on This Property
445 Hickory, Broomfield · 3.8% VA vs 6.5% conventional
$228
per month
$2,734
per year
$82,034
over 30 years
$82,034
interest saved
How gap financing works: The equity gap ($218,732) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,745, 5% of purchase price) and a second mortgage for the rest ($192,987 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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