Loan Comparison: 2.89% vs 6.5%
5850 Curtice Street, Littleton, CO 80120 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
2.89%
Remaining Balance
$148,587
Equity Gap
$346,412
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$346,412
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 2.89% + gap loan
$2,867/moAssumed loan: $618/mo
Gap financing: $2,249/mo
$106less per month with the assumable
Your Savings on This Property
5850 Curtice Street, Littleton · 2.89% VA vs 6.5% conventional
$106
per month
$1,266
per year
$37,989
over 30 years
$37,988
interest saved
How gap financing works: The equity gap ($346,412) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($321,662 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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