Loan Comparison: 6% vs 6.5%
13825 Milwaukee, Thornton, CO 80602 · 4bd/3ba · $699,999
List Price
$699,999
Assumable Rate
6%
Remaining Balance
$204,308
Equity Gap
$495,997
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$495,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (VA)
Blended Rate: 7.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 6% + gap loan
$4,770/moAssumed loan: $1,225/mo
Gap financing: $3,545/mo
Your Savings on This Property
13825 Milwaukee, Thornton · 6% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($495,997) 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 ($460,997 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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