Loan Comparison: 3.62% vs 6.5%
6790 63rd, Arvada, CO 80003 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
3.62%
Remaining Balance
$284,992
Equity Gap
$339,361
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$339,361
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.62% + gap loan
$3,668/moAssumed loan: $1,299/mo
Gap financing: $2,369/mo
$85less per month with the assumable
Your Savings on This Property
6790 63rd, Arvada · 3.62% VA vs 6.5% conventional
$85
per month
$1,019
per year
$30,560
over 30 years
$29,913
interest saved
How gap financing works: The equity gap ($339,361) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($308,111 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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