Loan Comparison: 2.98% vs 6.5%
7440 Blackhawk Street, Englewood, CO 80112 · 2bd/2ba · $342,500
List Price
$342,500
Assumable Rate
2.98%
Remaining Balance
$309,814
Equity Gap
$32,686
Loan Type
VAAdjust Your Scenario
$17,125
$17,125$32,686
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,057/moAssumable @ 2.98% + gap loan
$1,412/moAssumed loan: $1,303/mo
Gap financing: $109/mo
$645less per month with the assumable
Your Savings on This Property
7440 Blackhawk Street, Englewood · 2.98% VA vs 6.5% conventional
$645
per month
$7,739
per year
$232,178
over 30 years
$232,178
interest saved
How gap financing works: The equity gap ($32,686) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,125, 5% of purchase price) and a second mortgage for the rest ($15,561 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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