Loan Comparison: 3.45% vs 6.5%
13023 Chenango, Morrison, CO 80465 · 3bd/2ba · $509,900
List Price
$509,900
Assumable Rate
3.45%
Remaining Balance
$129,708
Equity Gap
$380,191
Loan Type
VAAdjust Your Scenario
$25,495
$25,495$380,191
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 7.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.45% + gap loan
$3,306/moAssumed loan: $579/mo
Gap financing: $2,727/mo
Your Savings on This Property
13023 Chenango, Morrison · 3.45% 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 ($380,191) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,495, 5% of purchase price) and a second mortgage for the rest ($354,696 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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