Loan Comparison: 2.65% vs 6.5%
15963 98th Way, Commerce City, CO 80238 · 2bd/3ba · $527,000
List Price
$527,000
Assumable Rate
2.65%
Remaining Balance
$119,996
Equity Gap
$407,003
Loan Type
VAAdjust Your Scenario
$26,350
$26,350$407,003
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.65% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,164/moAssumable @ 2.65% + gap loan
$3,145/moAssumed loan: $484/mo
Gap financing: $2,662/mo
$19less per month with the assumable
Your Savings on This Property
15963 98th Way, Commerce City · 2.65% VA vs 6.5% conventional
$19
per month
$232
per year
$6,958
over 30 years
$6,957
interest saved
How gap financing works: The equity gap ($407,003) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,350, 5% of purchase price) and a second mortgage for the rest ($380,653 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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