Loan Comparison: 2.84% vs 6.5%
6752 Clayton Way, Centennial, CO 80122 · 4bd/2ba · $789,000
List Price
$789,000
Assumable Rate
2.84%
Remaining Balance
$469,761
Equity Gap
$319,238
Loan Type
VAAdjust Your Scenario
$39,450
$39,450$319,238
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,738/moAssumable @ 2.84% + gap loan
$3,897/moAssumed loan: $1,940/mo
Gap financing: $1,956/mo
$841less per month with the assumable
Your Savings on This Property
6752 Clayton Way, Centennial · 2.84% VA vs 6.5% conventional
$841
per month
$10,093
per year
$302,804
over 30 years
$302,803
interest saved
How gap financing works: The equity gap ($319,238) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,450, 5% of purchase price) and a second mortgage for the rest ($279,788 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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