Loan Comparison: 2.87% vs 6.5%
10934 Pitkin Street, Commerce City, CO 80022 · 3bd/2ba · $620,000
List Price
$620,000
Assumable Rate
2.87%
Remaining Balance
$252,179
Equity Gap
$367,820
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$367,820
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.87% + gap loan
$3,401/moAssumed loan: $1,046/mo
Gap financing: $2,355/mo
$322less per month with the assumable
Your Savings on This Property
10934 Pitkin Street, Commerce City · 2.87% VA vs 6.5% conventional
$322
per month
$3,866
per year
$115,988
over 30 years
$115,987
interest saved
How gap financing works: The equity gap ($367,820) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($336,820 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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