Loan Comparison: 3.02% vs 6.5%
4969 Spinning Wheel, Brighton, CO 80601 · 3bd/3ba · $499,900
List Price
$499,900
Assumable Rate
3.02%
Remaining Balance
$269,571
Equity Gap
$232,808
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$232,808
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.02% + gap loan
$2,737/moAssumed loan: $1,139/mo
Gap financing: $1,598/mo
$264less per month with the assumable
Your Savings on This Property
4969 Spinning Wheel, Brighton · 3.02% VA vs 6.5% conventional
$264
per month
$3,173
per year
$95,180
over 30 years
$97,659
interest saved
How gap financing works: The equity gap ($232,808) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($207,813 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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