Loan Comparison: 3.76% vs 6.5%
3530 Sawtooth, Erie, CO 80516 · 3bd/3ba · $559,900
List Price
$559,900
Assumable Rate
3.76%
Remaining Balance
$352,301
Equity Gap
$207,599
Loan Type
VAAdjust Your Scenario
$27,995
$27,995$207,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,362/moAssumable @ 3.76% + gap loan
$3,015/moAssumed loan: $1,634/mo
Gap financing: $1,381/mo
$347less per month with the assumable
Your Savings on This Property
3530 Sawtooth, Erie · 3.76% VA vs 6.5% conventional
$347
per month
$4,169
per year
$125,079
over 30 years
$125,079
interest saved
How gap financing works: The equity gap ($207,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,995, 5% of purchase price) and a second mortgage for the rest ($179,604 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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