Loan Comparison: 3.16% vs 6.5%
6305 Saratoga, Erie, CO 80516 · 5bd/4ba · $729,900
List Price
$729,900
Assumable Rate
3.16%
Remaining Balance
$402,533
Equity Gap
$327,367
Loan Type
VAAdjust Your Scenario
$36,495
$36,495$327,367
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 3.16% + gap loan
$3,969/moAssumed loan: $1,732/mo
Gap financing: $2,237/mo
$414less per month with the assumable
Your Savings on This Property
6305 Saratoga, Erie · 3.16% VA vs 6.5% conventional
$414
per month
$4,971
per year
$149,116
over 30 years
$149,116
interest saved
How gap financing works: The equity gap ($327,367) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,495, 5% of purchase price) and a second mortgage for the rest ($290,872 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.
🏠
Back to This Listing
View photos, details, and request a showing for 6305 Saratoga.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.