Loan Comparison: 3.91% vs 6.5%
4345 Devinney, Morrison, CO 80465 · 3bd/2ba · $520,000
List Price
$520,000
Assumable Rate
3.91%
Remaining Balance
$153,528
Equity Gap
$366,913
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$366,913
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (VA)
Blended Rate: 7.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.91% + gap loan
$3,346/moAssumed loan: $725/mo
Gap financing: $2,621/mo
Your Savings on This Property
4345 Devinney, Morrison · 3.91% 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 ($366,913) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($340,913 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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