Loan Comparison: 3.47% vs 6.5%
9912 Garland Drive, Westminster, CO 80229 · 3bd/1ba · $550,000
List Price
$550,000
Assumable Rate
3.47%
Remaining Balance
$340,291
Equity Gap
$209,709
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$209,709
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.47% + gap loan
$2,796/moAssumed loan: $1,522/mo
Gap financing: $1,274/mo
$506less per month with the assumable
Your Savings on This Property
9912 Garland Drive, Westminster · 3.47% VA vs 6.5% conventional
$506
per month
$6,074
per year
$182,217
over 30 years
$182,217
interest saved
How gap financing works: The equity gap ($209,709) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($182,209 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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