Loan Comparison: 2.39% vs 6.5%
6565 Zimmerman Lake, Timnath, CO 80547 · 5bd/5ba · $709,000
List Price
$709,000
Assumable Rate
2.39%
Remaining Balance
$367,773
Equity Gap
$356,384
Loan Type
VAAdjust Your Scenario
$35,450
$35,450$356,384
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,257/moAssumable @ 2.39% + gap loan
$3,900/moAssumed loan: $1,432/mo
Gap financing: $2,468/mo
$357less per month with the assumable
Your Savings on This Property
6565 Zimmerman Lake, Timnath · 2.39% VA vs 6.5% conventional
$357
per month
$4,289
per year
$128,659
over 30 years
$143,816
interest saved
How gap financing works: The equity gap ($356,384) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,450, 5% of purchase price) and a second mortgage for the rest ($320,934 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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