Loan Comparison: 3.8% vs 6.5%
6289 Baum, Frederick, CO 80530 · 3bd/3ba · $469,500
List Price
$469,500
Assumable Rate
3.8%
Remaining Balance
$120,757
Equity Gap
$348,743
Loan Type
VAAdjust Your Scenario
$23,475
$23,475$348,743
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 7.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,819/moAssumable @ 3.8% + gap loan
$3,064/moAssumed loan: $563/mo
Gap financing: $2,501/mo
Your Savings on This Property
6289 Baum, Frederick · 3.8% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($348,743) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,475, 5% of purchase price) and a second mortgage for the rest ($325,268 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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