Loan Comparison: 6.16% vs 6.5%
6671 Lee Street, Littleton, CO 80127 · 5bd/3ba · $899,000
List Price
$899,000
Assumable Rate
6.16%
Remaining Balance
$777,280
Equity Gap
$121,720
Loan Type
VAAdjust Your Scenario
$44,950
$44,950$121,720
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.16% (VA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,398/moAssumable @ 6.16% + gap loan
$5,277/moAssumed loan: $4,740/mo
Gap financing: $537/mo
$121less per month with the assumable
Your Savings on This Property
6671 Lee Street, Littleton · 6.16% VA vs 6.5% conventional
$121
per month
$1,451
per year
$43,541
over 30 years
$43,541
interest saved
How gap financing works: The equity gap ($121,720) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,950, 5% of purchase price) and a second mortgage for the rest ($76,770 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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