Loan Comparison: 2.86% vs 6.5%
10165 25th Avenue, Lakewood, CO 80221 · 3bd/3ba · $207,900
List Price
$207,900
Assumable Rate
2.86%
Remaining Balance
$167,919
Equity Gap
$39,981
Loan Type
VAAdjust Your Scenario
$10,395
$10,395$39,981
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 3.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,248/moAssumable @ 2.86% + gap loan
$902/moAssumed loan: $695/mo
Gap financing: $207/mo
$346less per month with the assumable
Your Savings on This Property
10165 25th Avenue, Lakewood · 2.86% VA vs 6.5% conventional
$346
per month
$4,154
per year
$124,617
over 30 years
$124,617
interest saved
How gap financing works: The equity gap ($39,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,395, 5% of purchase price) and a second mortgage for the rest ($29,586 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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