Loan Comparison: 2.94% vs 6.5%
5197 Paloma, Brighton, CO 80601 · 3bd/3ba · $455,000
List Price
$455,000
Assumable Rate
2.94%
Remaining Balance
$302,475
Equity Gap
$228,575
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$228,575
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.94% + gap loan
$2,848/moAssumed loan: $1,265/mo
Gap financing: $1,583/mo
Your Savings on This Property
5197 Paloma, Brighton · 2.94% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$34,297
interest saved
How gap financing works: The equity gap ($228,575) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($205,825 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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