Loan Comparison: 3.23% vs 6.5%
10937 Ouray Street, Commerce City, CO 80022 · 3bd/3ba · $749,000
List Price
$749,000
Assumable Rate
3.23%
Remaining Balance
$390,657
Equity Gap
$358,342
Loan Type
VAAdjust Your Scenario
$37,450
$37,450$358,342
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,497/moAssumable @ 3.23% + gap loan
$3,940/moAssumed loan: $1,696/mo
Gap financing: $2,244/mo
$558less per month with the assumable
Your Savings on This Property
10937 Ouray Street, Commerce City · 3.23% VA vs 6.5% conventional
$558
per month
$6,695
per year
$200,836
over 30 years
$200,835
interest saved
How gap financing works: The equity gap ($358,342) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,450, 5% of purchase price) and a second mortgage for the rest ($320,892 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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