Loan Comparison: 2.77% vs 6.5%
545 Tenderfoot, Larkspur, CO 80118 · 3bd/3ba · $699,900
List Price
$699,900
Assumable Rate
2.77%
Remaining Balance
$449,616
Equity Gap
$250,284
Loan Type
VAAdjust Your Scenario
$34,995
$34,995$250,284
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.77% + gap loan
$3,496/moAssumed loan: $1,840/mo
Gap financing: $1,655/mo
$707less per month with the assumable
Your Savings on This Property
545 Tenderfoot, Larkspur · 2.77% VA vs 6.5% conventional
$707
per month
$8,484
per year
$254,513
over 30 years
$254,513
interest saved
How gap financing works: The equity gap ($250,284) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($215,289 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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