Loan Comparison: 2.9% vs 6.5%
2951 Downing Street, Englewood, CO 80113 · 4bd/2ba · $669,000
List Price
$669,000
Assumable Rate
2.9%
Remaining Balance
$465,637
Equity Gap
$203,363
Loan Type
VAAdjust Your Scenario
$33,450
$33,450$203,363
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,017/moAssumable @ 2.9% + gap loan
$3,126/moAssumed loan: $1,938/mo
Gap financing: $1,188/mo
$891less per month with the assumable
Your Savings on This Property
2951 Downing Street, Englewood · 2.9% VA vs 6.5% conventional
$891
per month
$10,691
per year
$320,735
over 30 years
$320,735
interest saved
How gap financing works: The equity gap ($203,363) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,450, 5% of purchase price) and a second mortgage for the rest ($169,913 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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