Loan Comparison: 2.87% vs 6.5%
20130 Edinborough, Parker, CO 80138 · 4bd/3ba · $599,000
List Price
$599,000
Assumable Rate
2.87%
Remaining Balance
$468,526
Equity Gap
$129,426
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$129,426
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 2.87% + gap loan
$2,708/moAssumed loan: $1,943/mo
Gap financing: $765/mo
$889less per month with the assumable
Your Savings on This Property
20130 Edinborough, Parker · 2.87% VA vs 6.5% conventional
$889
per month
$10,671
per year
$320,138
over 30 years
$319,090
interest saved
How gap financing works: The equity gap ($129,426) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($99,476 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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