Loan Comparison: 3.43% vs 6.5%
9145 Ellis Way, Arvada, CO 80221 · 2bd/2ba · $699,000
List Price
$699,000
Assumable Rate
3.43%
Remaining Balance
$238,319
Equity Gap
$460,680
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$460,680
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.43% (VA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.43% + gap loan
$4,038/moAssumed loan: $1,061/mo
Gap financing: $2,977/mo
$160less per month with the assumable
Your Savings on This Property
9145 Ellis Way, Arvada · 3.43% VA vs 6.5% conventional
$160
per month
$1,915
per year
$57,461
over 30 years
$57,460
interest saved
How gap financing works: The equity gap ($460,680) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($425,730 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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