Loan Comparison: 3.62% vs 6.5%
7966 90th, Broomfield, CO 80021 · 3bd/3ba · $369,900
List Price
$369,900
Assumable Rate
3.62%
Remaining Balance
$258,457
Equity Gap
$110,859
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$110,859
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 3.62% + gap loan
$1,888/moAssumed loan: $1,178/mo
Gap financing: $710/mo
$333less per month with the assumable
Your Savings on This Property
7966 90th, Broomfield · 3.62% VA vs 6.5% conventional
$333
per month
$3,995
per year
$119,862
over 30 years
$119,278
interest saved
How gap financing works: The equity gap ($110,859) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($92,364 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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