Loan Comparison: 6.78% vs 6.5%
391 Upham Street, Lakewood, CO 80226 · 4bd/2ba · $435,000
List Price
$435,000
Assumable Rate
6.78%
Remaining Balance
$405,791
Equity Gap
$29,208
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$29,208
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.78% (VA)
Blended Rate: 6.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 6.78% + gap loan
$2,692/moAssumed loan: $2,640/mo
Gap financing: $52/mo
Your Savings on This Property
391 Upham Street, Lakewood · 6.78% 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 ($29,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($7,458 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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