Loan Comparison: 3.23% vs 6.5%
16389 99th Way, Commerce City, CO 80022 · 1bd/1ba · $589,000
List Price
$589,000
Assumable Rate
3.23%
Remaining Balance
$281,919
Equity Gap
$307,080
Loan Type
VAAdjust Your Scenario
$29,450
$29,450$307,080
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,537/moAssumable @ 3.23% + gap loan
$3,165/moAssumed loan: $1,224/mo
Gap financing: $1,941/mo
$372less per month with the assumable
Your Savings on This Property
16389 99th Way, Commerce City · 3.23% VA vs 6.5% conventional
$372
per month
$4,460
per year
$133,801
over 30 years
$133,800
interest saved
How gap financing works: The equity gap ($307,080) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,450, 5% of purchase price) and a second mortgage for the rest ($277,630 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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