Loan Comparison: 3.13% vs 6.5%
5078 Gibraltar Way, Centennial, CO 80120 · 6bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.13%
Remaining Balance
$122,195
Equity Gap
$352,805
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$352,805
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.13% + gap loan
$2,825/moAssumed loan: $524/mo
Gap financing: $2,301/mo
$28less per month with the assumable
Your Savings on This Property
5078 Gibraltar Way, Centennial · 3.13% VA vs 6.5% conventional
$28
per month
$331
per year
$9,943
over 30 years
$9,943
interest saved
How gap financing works: The equity gap ($352,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($329,055 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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