Loan Comparison: 2.81% vs 6.5%
7644 Franklin Way, Centennial, CO 80122 · 5bd/4ba · $725,000
List Price
$725,000
Assumable Rate
2.81%
Remaining Balance
$396,474
Equity Gap
$328,526
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$328,526
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.81% + gap loan
$3,675/moAssumed loan: $1,631/mo
Gap financing: $2,044/mo
$679less per month with the assumable
Your Savings on This Property
7644 Franklin Way, Centennial · 2.81% VA vs 6.5% conventional
$679
per month
$8,142
per year
$244,272
over 30 years
$244,272
interest saved
How gap financing works: The equity gap ($328,526) 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 ($292,276 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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