Loan Comparison: 3.9% vs 6.5%
496 Elm, Brighton, CO 80601 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.9%
Remaining Balance
$241,357
Equity Gap
$159,722
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$159,722
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (VA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.9% + gap loan
$2,213/moAssumed loan: $1,138/mo
Gap financing: $1,074/mo
$188less per month with the assumable
Your Savings on This Property
496 Elm, Brighton · 3.9% VA vs 6.5% conventional
$188
per month
$2,262
per year
$67,851
over 30 years
$69,030
interest saved
How gap financing works: The equity gap ($159,722) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($139,727 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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