Loan Comparison: 3.48% vs 6.5%
4603 Castle, Broomfield, CO 80023 · 4bd/5ba · $1,200,000
List Price
$1,200,000
Assumable Rate
3.48%
Remaining Balance
$570,560
Equity Gap
$629,440
Loan Type
VAAdjust Your Scenario
$60,000
$60,000$629,440
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,206/moAssumable @ 3.48% + gap loan
$6,934/moAssumed loan: $2,556/mo
Gap financing: $4,379/mo
$271less per month with the assumable
Your Savings on This Property
4603 Castle, Broomfield · 3.48% VA vs 6.5% conventional
$271
per month
$3,256
per year
$97,693
over 30 years
$97,693
interest saved
How gap financing works: The equity gap ($629,440) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($60,000, 5% of purchase price) and a second mortgage for the rest ($569,440 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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