Loan Comparison: 3.7% vs 6.5%
12186 Olive, Thornton, CO 80602 · 5bd/4ba · $730,000
List Price
$730,000
Assumable Rate
3.7%
Remaining Balance
$403,522
Equity Gap
$326,478
Loan Type
VAAdjust Your Scenario
$36,500
$36,500$326,478
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 3.7% + gap loan
$4,087/moAssumed loan: $1,857/mo
Gap financing: $2,230/mo
$296less per month with the assumable
Your Savings on This Property
12186 Olive, Thornton · 3.7% VA vs 6.5% conventional
$296
per month
$3,556
per year
$106,693
over 30 years
$106,693
interest saved
How gap financing works: The equity gap ($326,478) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,500, 5% of purchase price) and a second mortgage for the rest ($289,978 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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