Loan Comparison: 5.23% vs 6.5%
18870 85th, Arvada, CO 80007 · 6bd/4ba · $997,500
List Price
$997,500
Assumable Rate
5.23%
Remaining Balance
$602,558
Equity Gap
$394,942
Loan Type
VAAdjust Your Scenario
$49,875
$49,875$394,942
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 6.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,990/moAssumable @ 5.23% + gap loan
$5,973/moAssumed loan: $3,320/mo
Gap financing: $2,653/mo
$16less per month with the assumable
Your Savings on This Property
18870 85th, Arvada · 5.23% VA vs 6.5% conventional
$16
per month
$198
per year
$5,933
over 30 years
$5,933
interest saved
How gap financing works: The equity gap ($394,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,875, 5% of purchase price) and a second mortgage for the rest ($345,067 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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