Loan Comparison: 2.89% vs 6.5%
6715 134th, Thornton, CO 80602 · 5bd/5ba · $829,900
List Price
$829,900
Assumable Rate
2.89%
Remaining Balance
$463,076
Equity Gap
$367,904
Loan Type
VAAdjust Your Scenario
$41,495
$41,495$367,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,983/moAssumable @ 2.89% + gap loan
$4,435/moAssumed loan: $1,925/mo
Gap financing: $2,510/mo
$548less per month with the assumable
Your Savings on This Property
6715 134th, Thornton · 2.89% VA vs 6.5% conventional
$548
per month
$6,582
per year
$197,449
over 30 years
$198,529
interest saved
How gap financing works: The equity gap ($367,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,495, 5% of purchase price) and a second mortgage for the rest ($326,409 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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