Loan Comparison: 3.31% vs 6.5%
8825 Chipita Park, Cascade, CO 80809 · 5bd/5ba · $1,425,000
List Price
$1,425,000
Assumable Rate
3.31%
Remaining Balance
$594,126
Equity Gap
$1,031,768
Loan Type
VAAdjust Your Scenario
$71,250
$71,250$1,031,768
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 6.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,557/moAssumable @ 3.31% + gap loan
$9,991/moAssumed loan: $2,605/mo
Gap financing: $7,386/mo
Your Savings on This Property
8825 Chipita Park, Cascade · 3.31% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($1,031,768) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($71,250, 5% of purchase price) and a second mortgage for the rest ($960,518 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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