Loan Comparison: 3.45% vs 6.5%
489 Longspur, Brighton, CO 80601 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.45%
Remaining Balance
$498,939
Equity Gap
$55,018
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$55,018
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.45% + gap loan
$2,438/moAssumed loan: $2,227/mo
Gap financing: $212/mo
$864less per month with the assumable
Your Savings on This Property
489 Longspur, Brighton · 3.45% VA vs 6.5% conventional
$864
per month
$10,373
per year
$311,187
over 30 years
$315,144
interest saved
How gap financing works: The equity gap ($55,018) 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 ($27,518 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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