Loan Comparison: 2.74% vs 6.5%
5627 SIMMS Way, Littleton, CO 80205 · 1bd/1ba · $560,000
List Price
$560,000
Assumable Rate
2.74%
Remaining Balance
$293,530
Equity Gap
$266,470
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$266,470
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 2.74% + gap loan
$2,864/moAssumed loan: $1,197/mo
Gap financing: $1,667/mo
$498less per month with the assumable
Your Savings on This Property
5627 SIMMS Way, Littleton · 2.74% VA vs 6.5% conventional
$498
per month
$5,981
per year
$179,434
over 30 years
$179,434
interest saved
How gap financing works: The equity gap ($266,470) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($238,470 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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