Loan Comparison: 3.03% vs 6.5%
2842 Centennial Drive, Littleton, CO 80123 · 5bd/5ba · $295,000
List Price
$295,000
Assumable Rate
3.03%
Remaining Balance
$252,771
Equity Gap
$42,229
Loan Type
VAAdjust Your Scenario
$14,750
$14,750$42,229
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.03% (VA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 3.03% + gap loan
$1,262/moAssumed loan: $1,070/mo
Gap financing: $192/mo
$509less per month with the assumable
Your Savings on This Property
2842 Centennial Drive, Littleton · 3.03% VA vs 6.5% conventional
$509
per month
$6,113
per year
$183,401
over 30 years
$183,401
interest saved
How gap financing works: The equity gap ($42,229) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($27,479 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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