Loan Comparison: 2.88% vs 6.5%
5774 Riverbluff, Timnath, CO 80547 · 6bd/7ba · $1,735,000
List Price
$1,735,000
Assumable Rate
2.88%
Remaining Balance
$741,919
Equity Gap
$993,081
Loan Type
VAAdjust Your Scenario
$86,750
$86,750$993,081
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$10,418/moAssumable @ 2.88% + gap loan
$10,049/moAssumed loan: $3,080/mo
Gap financing: $6,969/mo
$369less per month with the assumable
Your Savings on This Property
5774 Riverbluff, Timnath · 2.88% VA vs 6.5% conventional
$369
per month
$4,428
per year
$132,844
over 30 years
$132,844
interest saved
How gap financing works: The equity gap ($993,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($86,750, 5% of purchase price) and a second mortgage for the rest ($906,331 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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