Loan Comparison: 2.88% vs 6.5%
11486 Ponderosa, Franktown, CO 80116 · 4bd/3ba · $699,000
List Price
$699,000
Assumable Rate
2.88%
Remaining Balance
$580,702
Equity Gap
$118,298
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$118,298
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.88% + gap loan
$3,052/moAssumed loan: $2,411/mo
Gap financing: $641/mo
$1,146less per month with the assumable
Your Savings on This Property
11486 Ponderosa, Franktown · 2.88% VA vs 6.5% conventional
$1,146
per month
$13,746
per year
$412,392
over 30 years
$412,392
interest saved
How gap financing works: The equity gap ($118,298) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($83,348 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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