Loan Comparison: 3.02% vs 6.5%
503 5th, Berthoud, CO 80513 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
3.02%
Remaining Balance
$321,345
Equity Gap
$202,907
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$202,907
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.02% + gap loan
$2,717/moAssumed loan: $1,358/mo
Gap financing: $1,358/mo
$436less per month with the assumable
Your Savings on This Property
503 5th, Berthoud · 3.02% VA vs 6.5% conventional
$436
per month
$5,230
per year
$156,898
over 30 years
$156,150
interest saved
How gap financing works: The equity gap ($202,907) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($176,657 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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