Loan Comparison: 2.87% vs 6.5%
759 Willow Drive, Lochbuie, CO 80603 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.87%
Remaining Balance
$400,939
Equity Gap
$49,060
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$49,060
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.87% + gap loan
$1,848/moAssumed loan: $1,662/mo
Gap financing: $186/mo
$854less per month with the assumable
Your Savings on This Property
759 Willow Drive, Lochbuie · 2.87% VA vs 6.5% conventional
$854
per month
$10,248
per year
$307,435
over 30 years
$307,434
interest saved
How gap financing works: The equity gap ($49,060) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($26,560 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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