Loan Comparison: 6.36% vs 6.5%
2161 Phillips Lane, Centennial, CO 80122 · 4bd/2ba · $599,000
List Price
$599,000
Assumable Rate
6.36%
Remaining Balance
$520,830
Equity Gap
$78,169
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$78,169
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.36% (VA)
Blended Rate: 6.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 6.36% + gap loan
$3,581/moAssumed loan: $3,244/mo
Gap financing: $337/mo
$15less per month with the assumable
Your Savings on This Property
2161 Phillips Lane, Centennial · 6.36% VA vs 6.5% conventional
$15
per month
$185
per year
$5,557
over 30 years
$5,556
interest saved
How gap financing works: The equity gap ($78,169) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($48,219 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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