Loan Comparison: 2.77% vs 6.5%
4570 Hoyt, Wheat Ridge, CO 80033 · 4bd/2ba · $500,000
List Price
$500,000
Assumable Rate
2.77%
Remaining Balance
$323,372
Equity Gap
$175,863
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$175,863
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.77% + gap loan
$2,484/moAssumed loan: $1,324/mo
Gap financing: $1,160/mo
$519less per month with the assumable
Your Savings on This Property
4570 Hoyt, Wheat Ridge · 2.77% VA vs 6.5% conventional
$519
per month
$6,225
per year
$186,750
over 30 years
$185,985
interest saved
How gap financing works: The equity gap ($175,863) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($150,863 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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