Loan Comparison: 2.88% vs 6.5%
4438 95th, Thornton, CO 80229 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
2.88%
Remaining Balance
$305,997
Equity Gap
$244,687
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$244,687
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.88% + gap loan
$2,940/moAssumed loan: $1,270/mo
Gap financing: $1,670/mo
$362less per month with the assumable
Your Savings on This Property
4438 95th, Thornton · 2.88% VA vs 6.5% conventional
$362
per month
$4,346
per year
$130,392
over 30 years
$131,076
interest saved
How gap financing works: The equity gap ($244,687) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($217,187 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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