Loan Comparison: 2.98% vs 6.5%
3043 White Oak Street, Littleton, CO 80014 · 2bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.98%
Remaining Balance
$454,690
Equity Gap
$195,310
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$195,310
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.98% + gap loan
$3,050/moAssumed loan: $1,912/mo
Gap financing: $1,138/mo
$853less per month with the assumable
Your Savings on This Property
3043 White Oak Street, Littleton · 2.98% VA vs 6.5% conventional
$853
per month
$10,230
per year
$306,914
over 30 years
$306,914
interest saved
How gap financing works: The equity gap ($195,310) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($162,810 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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