Loan Comparison: 2.25% vs 6.5%
10117 Waco Street, Commerce City, CO 80022 · 6bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.25%
Remaining Balance
$328,649
Equity Gap
$186,350
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$186,350
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (VA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.25% + gap loan
$2,379/moAssumed loan: $1,256/mo
Gap financing: $1,123/mo
$713less per month with the assumable
Your Savings on This Property
10117 Waco Street, Commerce City · 2.25% VA vs 6.5% conventional
$713
per month
$8,558
per year
$256,754
over 30 years
$256,753
interest saved
How gap financing works: The equity gap ($186,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($160,600 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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