Loan Comparison: 2.87% vs 6.5%
16821 Hialeah Avenue, Centennial, CO 80015 · 3bd/2ba · $494,900
List Price
$494,900
Assumable Rate
2.87%
Remaining Balance
$299,314
Equity Gap
$195,586
Loan Type
VAAdjust Your Scenario
$24,745
$24,745$195,586
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 2.87% + gap loan
$2,436/moAssumed loan: $1,241/mo
Gap financing: $1,195/mo
$536less per month with the assumable
Your Savings on This Property
16821 Hialeah Avenue, Centennial · 2.87% VA vs 6.5% conventional
$536
per month
$6,433
per year
$193,004
over 30 years
$193,004
interest saved
How gap financing works: The equity gap ($195,586) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,745, 5% of purchase price) and a second mortgage for the rest ($170,841 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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