Loan Comparison: 3.45% vs 6.5%
17463 98th Way, Commerce City, CO 80022 · 5bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.45%
Remaining Balance
$275,879
Equity Gap
$274,121
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$274,121
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.45% + gap loan
$2,956/moAssumed loan: $1,231/mo
Gap financing: $1,724/mo
$347less per month with the assumable
Your Savings on This Property
17463 98th Way, Commerce City · 3.45% VA vs 6.5% conventional
$347
per month
$4,164
per year
$124,925
over 30 years
$124,925
interest saved
How gap financing works: The equity gap ($274,121) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($246,621 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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