Loan Comparison: 2.31% vs 6.5%
21504 Omaha Avenue, Parker, CO 80138 · 3bd/1ba · $600,000
List Price
$600,000
Assumable Rate
2.31%
Remaining Balance
$282,889
Equity Gap
$317,110
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$317,110
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.31% (VA)
Blended Rate: 4.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.31% + gap loan
$3,098/moAssumed loan: $1,090/mo
Gap financing: $2,008/mo
$505less per month with the assumable
Your Savings on This Property
21504 Omaha Avenue, Parker · 2.31% VA vs 6.5% conventional
$505
per month
$6,063
per year
$181,895
over 30 years
$181,894
interest saved
How gap financing works: The equity gap ($317,110) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($287,110 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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