Loan Comparison: 2.375% vs 6.5%
2040 Oak Avenue, Boulder, CO 80304 · 2bd/2ba · $1,998,000
List Price
$1,998,000
Assumable Rate
2.375%
Remaining Balance
$498,964
Equity Gap
$1,499,035
Loan Type
VAAdjust Your Scenario
$99,900
$99,900$1,499,035
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (VA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$11,997/moAssumable @ 2.375% + gap loan
$11,722/moAssumed loan: $1,939/mo
Gap financing: $9,783/mo
$275less per month with the assumable
Your Savings on This Property
2040 Oak Avenue, Boulder · 2.375% VA vs 6.5% conventional
$275
per month
$3,301
per year
$99,033
over 30 years
$99,032
interest saved
How gap financing works: The equity gap ($1,499,035) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($99,900, 5% of purchase price) and a second mortgage for the rest ($1,399,135 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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