Loan Comparison: 3.45% vs 6.5%
14549 Normande, Mead, CO 80542 · 5bd/3ba · $569,000
List Price
$569,000
Assumable Rate
3.45%
Remaining Balance
$494,949
Equity Gap
$74,050
Loan Type
VAAdjust Your Scenario
$28,450
$28,450$74,050
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 3.45% + gap loan
$2,559/moAssumed loan: $2,209/mo
Gap financing: $351/mo
$857less per month with the assumable
Your Savings on This Property
14549 Normande, Mead · 3.45% VA vs 6.5% conventional
$857
per month
$10,287
per year
$308,617
over 30 years
$308,616
interest saved
How gap financing works: The equity gap ($74,050) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,450, 5% of purchase price) and a second mortgage for the rest ($45,600 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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