Loan Comparison: 3.8% vs 6.5%
445 Hickory, Broomfield, CO 80020 · 5bd/3ba · $487,400
List Price
$487,400
Assumable Rate
3.8%
Remaining Balance
$294,848
Equity Gap
$191,232
Loan Type
VAAdjust Your Scenario
$24,370
$24,370$191,232
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,927/moAssumable @ 3.8% + gap loan
$2,657/moAssumed loan: $1,374/mo
Gap financing: $1,283/mo
$270less per month with the assumable
Your Savings on This Property
445 Hickory, Broomfield · 3.8% VA vs 6.5% conventional
$270
per month
$3,237
per year
$97,119
over 30 years
$95,799
interest saved
How gap financing works: The equity gap ($191,232) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,370, 5% of purchase price) and a second mortgage for the rest ($166,862 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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