Loan Comparison: 2.78% vs 6.5%
9437 Iron Mountain Way, Arvada, CO 80007 · 4bd/4ba · $925,000
List Price
$925,000
Assumable Rate
2.78%
Remaining Balance
$461,865
Equity Gap
$463,135
Loan Type
VAAdjust Your Scenario
$46,250
$46,250$463,135
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,554/moAssumable @ 2.78% + gap loan
$4,808/moAssumed loan: $1,893/mo
Gap financing: $2,915/mo
$747less per month with the assumable
Your Savings on This Property
9437 Iron Mountain Way, Arvada · 2.78% VA vs 6.5% conventional
$747
per month
$8,958
per year
$268,742
over 30 years
$268,742
interest saved
How gap financing works: The equity gap ($463,135) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,250, 5% of purchase price) and a second mortgage for the rest ($416,885 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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