Loan Comparison: 3.23% vs 6.5%
13638 Valentia, Thornton, CO 80602 · 5bd/4ba · $700,000
List Price
$700,000
Assumable Rate
3.23%
Remaining Balance
$348,915
Equity Gap
$350,291
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$350,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.23% + gap loan
$3,939/moAssumed loan: $1,515/mo
Gap financing: $2,424/mo
$264less per month with the assumable
Your Savings on This Property
13638 Valentia, Thornton · 3.23% VA vs 6.5% conventional
$264
per month
$3,171
per year
$95,135
over 30 years
$94,341
interest saved
How gap financing works: The equity gap ($350,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($315,291 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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