Loan Comparison: 2.9% vs 6.5%
5103 Preserve Place, Firestone, CO 80504 · 3bd/3ba · $699,000
List Price
$699,000
Assumable Rate
2.9%
Remaining Balance
$449,518
Equity Gap
$249,481
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$249,481
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.9% + gap loan
$3,371/moAssumed loan: $1,871/mo
Gap financing: $1,500/mo
$826less per month with the assumable
Your Savings on This Property
5103 Preserve Place, Firestone · 2.9% VA vs 6.5% conventional
$826
per month
$9,914
per year
$297,427
over 30 years
$297,426
interest saved
How gap financing works: The equity gap ($249,481) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($214,531 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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