Loan Comparison: 2.94% vs 6.5%
8939 Winona Court, Westminster, CO 80031 · 3bd/2ba · $539,000
List Price
$539,000
Assumable Rate
2.94%
Remaining Balance
$270,345
Equity Gap
$268,654
Loan Type
VAAdjust Your Scenario
$26,950
$26,950$268,654
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 2.94% + gap loan
$2,821/moAssumed loan: $1,131/mo
Gap financing: $1,690/mo
$415less per month with the assumable
Your Savings on This Property
8939 Winona Court, Westminster · 2.94% VA vs 6.5% conventional
$415
per month
$4,985
per year
$149,551
over 30 years
$149,550
interest saved
How gap financing works: The equity gap ($268,654) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($241,704 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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