Loan Comparison: 2.83% vs 6.5%
10989 Pitkin Street, Commerce City, CO 80022 · 3bd/2ba · $549,950
List Price
$549,950
Assumable Rate
2.83%
Remaining Balance
$256,689
Equity Gap
$293,261
Loan Type
VAAdjust Your Scenario
$27,498
$27,498$293,261
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.83% + gap loan
$2,917/moAssumed loan: $1,059/mo
Gap financing: $1,858/mo
$385less per month with the assumable
Your Savings on This Property
10989 Pitkin Street, Commerce City · 2.83% VA vs 6.5% conventional
$385
per month
$4,622
per year
$138,666
over 30 years
$138,665
interest saved
How gap financing works: The equity gap ($293,261) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,498, 5% of purchase price) and a second mortgage for the rest ($265,763 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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