Loan Comparison: 2.88% vs 6.5%
11960 Singing Winds Street, Parker, CO 80138 · 2bd/3ba · $800,000
List Price
$800,000
Assumable Rate
2.88%
Remaining Balance
$716,614
Equity Gap
$83,385
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$83,385
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.88% + gap loan
$3,278/moAssumed loan: $2,975/mo
Gap financing: $303/mo
$1,525less per month with the assumable
Your Savings on This Property
11960 Singing Winds Street, Parker · 2.88% VA vs 6.5% conventional
$1,525
per month
$18,303
per year
$549,097
over 30 years
$549,096
interest saved
How gap financing works: The equity gap ($83,385) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($43,385 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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