Loan Comparison: 3.6% vs 6.5%
658 Yarrow Street, Lakewood, CO 80226 · 5bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.6%
Remaining Balance
$174,208
Equity Gap
$275,791
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$275,791
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.6% + gap loan
$2,563/moAssumed loan: $792/mo
Gap financing: $1,771/mo
$139less per month with the assumable
Your Savings on This Property
658 Yarrow Street, Lakewood · 3.6% VA vs 6.5% conventional
$139
per month
$1,668
per year
$50,045
over 30 years
$50,044
interest saved
How gap financing works: The equity gap ($275,791) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($253,291 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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