Loan Comparison: 2.87% vs 6.5%
20130 Edinborough, Parker, CO 80138 · 4bd/3ba · $605,000
List Price
$605,000
Assumable Rate
2.87%
Remaining Balance
$472,701
Equity Gap
$135,426
Loan Type
VAAdjust Your Scenario
$30,250
$30,250$135,426
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,633/moAssumable @ 2.87% + gap loan
$2,769/moAssumed loan: $1,960/mo
Gap financing: $809/mo
$864less per month with the assumable
Your Savings on This Property
20130 Edinborough, Parker · 2.87% VA vs 6.5% conventional
$864
per month
$10,370
per year
$311,098
over 30 years
$314,225
interest saved
How gap financing works: The equity gap ($135,426) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,250, 5% of purchase price) and a second mortgage for the rest ($105,176 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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