Loan Comparison: 3.23% vs 6.5%
7313 Ames, Arvada, CO 80003 · 3bd/4ba · $687,000
List Price
$687,000
Assumable Rate
3.23%
Remaining Balance
$373,539
Equity Gap
$314,304
Loan Type
VAAdjust Your Scenario
$34,350
$34,350$314,304
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,125/moAssumable @ 3.23% + gap loan
$3,774/moAssumed loan: $1,622/mo
Gap financing: $2,153/mo
$351less per month with the assumable
Your Savings on This Property
7313 Ames, Arvada · 3.23% VA vs 6.5% conventional
$351
per month
$4,212
per year
$126,367
over 30 years
$127,210
interest saved
How gap financing works: The equity gap ($314,304) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,350, 5% of purchase price) and a second mortgage for the rest ($279,954 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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