Loan Comparison: 2.88% vs 6.5%
7664 Bison Court, Littleton, CO 80125 · 4bd/3ba · $725,000
List Price
$725,000
Assumable Rate
2.88%
Remaining Balance
$346,664
Equity Gap
$378,336
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$378,336
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.88% + gap loan
$3,831/moAssumed loan: $1,439/mo
Gap financing: $2,392/mo
$522less per month with the assumable
Your Savings on This Property
7664 Bison Court, Littleton · 2.88% VA vs 6.5% conventional
$522
per month
$6,267
per year
$188,008
over 30 years
$188,008
interest saved
How gap financing works: The equity gap ($378,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($342,086 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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