Loan Comparison: 2.87% vs 6.5%
923 Stagecoach, Brighton, CO 80603 · 3bd/2ba · $419,900
List Price
$419,900
Assumable Rate
2.87%
Remaining Balance
$361,653
Equity Gap
$58,247
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$58,247
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 2.87% + gap loan
$1,786/moAssumed loan: $1,500/mo
Gap financing: $286/mo
$735less per month with the assumable
Your Savings on This Property
923 Stagecoach, Brighton · 2.87% VA vs 6.5% conventional
$735
per month
$8,825
per year
$264,748
over 30 years
$264,748
interest saved
How gap financing works: The equity gap ($58,247) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($37,252 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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