Loan Comparison: 2.68% vs 6.5%
14079 Garfield, Thornton, CO 80602 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
2.68%
Remaining Balance
$253,616
Equity Gap
$311,384
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$311,384
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.68% + gap loan
$3,203/moAssumed loan: $1,026/mo
Gap financing: $2,177/mo
$190less per month with the assumable
Your Savings on This Property
14079 Garfield, Thornton · 2.68% VA vs 6.5% conventional
$190
per month
$2,275
per year
$68,250
over 30 years
$68,250
interest saved
How gap financing works: The equity gap ($311,384) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($283,134 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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