Loan Comparison: 6.58% vs 6.5%
1605 Cape Street, Lakewood, CO 80232 · 4bd/5ba · $559,000
List Price
$559,000
Assumable Rate
6.58%
Remaining Balance
$425,144
Equity Gap
$133,855
Loan Type
VAAdjust Your Scenario
$27,950
$27,950$133,855
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.58% (VA)
Blended Rate: 6.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,357/moAssumable @ 6.58% + gap loan
$3,450/moAssumed loan: $2,710/mo
Gap financing: $741/mo
Your Savings on This Property
1605 Cape Street, Lakewood · 6.58% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($133,855) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,950, 5% of purchase price) and a second mortgage for the rest ($105,905 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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