Loan Comparison: 3.61% vs 6.5%
7440 Oregon Drive, Lakewood, CO 80232 · 2bd/1ba · $520,000
List Price
$520,000
Assumable Rate
3.61%
Remaining Balance
$342,853
Equity Gap
$177,147
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$177,147
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.61% + gap loan
$2,618/moAssumed loan: $1,561/mo
Gap financing: $1,057/mo
$505less per month with the assumable
Your Savings on This Property
7440 Oregon Drive, Lakewood · 3.61% VA vs 6.5% conventional
$505
per month
$6,059
per year
$181,757
over 30 years
$181,757
interest saved
How gap financing works: The equity gap ($177,147) 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 ($151,147 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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