Loan Comparison: 3.07% vs 6.5%
560 16th, Brighton, CO 80601 · 5bd/3ba · $725,000
List Price
$725,000
Assumable Rate
3.07%
Remaining Balance
$461,792
Equity Gap
$265,166
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$265,166
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 3.07% + gap loan
$3,725/moAssumed loan: $1,964/mo
Gap financing: $1,760/mo
$629less per month with the assumable
Your Savings on This Property
560 16th, Brighton · 3.07% VA vs 6.5% conventional
$629
per month
$7,545
per year
$226,365
over 30 years
$228,323
interest saved
How gap financing works: The equity gap ($265,166) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($228,916 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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