Loan Comparison: 4.17% vs 6.5%
880 Mockingbird, Brighton, CO 80601 · 2bd/1ba · $275,000
List Price
$275,000
Assumable Rate
4.17%
Remaining Balance
$150,967
Equity Gap
$124,033
Loan Type
VAAdjust Your Scenario
$13,750
$13,750$124,033
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 4.17% + gap loan
$1,584/moAssumed loan: $736/mo
Gap financing: $848/mo
$68less per month with the assumable
Your Savings on This Property
880 Mockingbird, Brighton · 4.17% VA vs 6.5% conventional
$68
per month
$812
per year
$24,366
over 30 years
$24,366
interest saved
How gap financing works: The equity gap ($124,033) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($110,283 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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