Loan Comparison: 6.35% vs 6.5%
13862 Montana, Lakewood, CO 80228 · 3bd/4ba · $985,000
List Price
$985,000
Assumable Rate
6.35%
Remaining Balance
$514,708
Equity Gap
$470,292
Loan Type
VAAdjust Your Scenario
$49,250
$49,250$470,292
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (VA)
Blended Rate: 6.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,915/moAssumable @ 6.35% + gap loan
$6,147/moAssumed loan: $3,203/mo
Gap financing: $2,944/mo
Your Savings on This Property
13862 Montana, Lakewood · 6.35% 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 ($470,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,250, 5% of purchase price) and a second mortgage for the rest ($421,042 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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