Loan Comparison: 2.71% vs 6.5%
8690 Decatur Street, Westminster, CO 80205 · 1bd/1ba · $249,900
List Price
$249,900
Assumable Rate
2.71%
Remaining Balance
$175,890
Equity Gap
$74,009
Loan Type
VAAdjust Your Scenario
$12,495
$12,495$74,009
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.71% (VA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 2.71% + gap loan
$1,144/moAssumed loan: $714/mo
Gap financing: $430/mo
$356less per month with the assumable
Your Savings on This Property
8690 Decatur Street, Westminster · 2.71% VA vs 6.5% conventional
$356
per month
$4,273
per year
$128,200
over 30 years
$128,199
interest saved
How gap financing works: The equity gap ($74,009) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,495, 5% of purchase price) and a second mortgage for the rest ($61,514 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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