Loan Comparison: 2.98% vs 6.5%
12962 Montana Avenue, Lakewood, CO 80228 · 4bd/3ba · $725,000
List Price
$725,000
Assumable Rate
2.98%
Remaining Balance
$281,099
Equity Gap
$443,901
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$443,901
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.98% + gap loan
$4,032/moAssumed loan: $1,182/mo
Gap financing: $2,850/mo
$321less per month with the assumable
Your Savings on This Property
12962 Montana Avenue, Lakewood · 2.98% VA vs 6.5% conventional
$321
per month
$3,851
per year
$115,531
over 30 years
$115,531
interest saved
How gap financing works: The equity gap ($443,901) 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 ($407,651 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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