Loan Comparison: 3.16% vs 6.5%
1680 Legacy, Elizabeth, CO 80107 · 5bd/5ba · $1,140,000
List Price
$1,140,000
Assumable Rate
3.16%
Remaining Balance
$324,797
Equity Gap
$817,398
Loan Type
VAAdjust Your Scenario
$57,000
$57,000$817,398
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,845/moAssumable @ 3.16% + gap loan
$7,244/moAssumed loan: $1,398/mo
Gap financing: $5,847/mo
Your Savings on This Property
1680 Legacy, Elizabeth · 3.16% 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 ($817,398) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,000, 5% of purchase price) and a second mortgage for the rest ($760,398 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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