Loan Comparison: 3.61% vs 6.5%
12799 Forest, Thornton, CO 80241 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
3.61%
Remaining Balance
$215,774
Equity Gap
$284,706
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$284,706
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.61% + gap loan
$2,979/moAssumed loan: $982/mo
Gap financing: $1,997/mo
$23less per month with the assumable
Your Savings on This Property
12799 Forest, Thornton · 3.61% VA vs 6.5% conventional
$23
per month
$278
per year
$8,348
over 30 years
$8,828
interest saved
How gap financing works: The equity gap ($284,706) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($259,706 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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