Loan Comparison: 2.77% vs 6.5%
5600 Dover Street, Arvada, CO 80002 · 2bd/1ba · $550,000
List Price
$550,000
Assumable Rate
2.77%
Remaining Balance
$386,110
Equity Gap
$163,890
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$163,890
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.77% + gap loan
$2,534/moAssumed loan: $1,580/mo
Gap financing: $954/mo
$769less per month with the assumable
Your Savings on This Property
5600 Dover Street, Arvada · 2.77% VA vs 6.5% conventional
$769
per month
$9,223
per year
$276,676
over 30 years
$276,676
interest saved
How gap financing works: The equity gap ($163,890) 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 ($136,390 at 7.5%). 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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