Loan Comparison: 2.68% vs 6.5%
12175 Cherrywood, Broomfield, CO 80020 · 3bd/2ba · $645,000
List Price
$645,000
Assumable Rate
2.68%
Remaining Balance
$282,583
Equity Gap
$362,416
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$362,416
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 2.68% + gap loan
$3,682/moAssumed loan: $1,143/mo
Gap financing: $2,539/mo
$191less per month with the assumable
Your Savings on This Property
12175 Cherrywood, Broomfield · 2.68% VA vs 6.5% conventional
$191
per month
$2,294
per year
$68,809
over 30 years
$68,808
interest saved
How gap financing works: The equity gap ($362,416) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($330,166 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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