Loan Comparison: 2.77% vs 6.5%
3355 Flower Street, Lakewood, CO 80227 · 1bd/1ba · $240,000
List Price
$240,000
Assumable Rate
2.77%
Remaining Balance
$206,682
Equity Gap
$33,317
Loan Type
VAAdjust Your Scenario
$12,000
$12,000$33,317
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.77% + gap loan
$995/moAssumed loan: $846/mo
Gap financing: $149/mo
$446less per month with the assumable
Your Savings on This Property
3355 Flower Street, Lakewood · 2.77% VA vs 6.5% conventional
$446
per month
$5,353
per year
$160,600
over 30 years
$160,599
interest saved
How gap financing works: The equity gap ($33,317) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($21,317 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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