Loan Comparison: 2.96% vs 6.5%
9394 Sedalia, Commerce City, CO 80022 · 5bd/4ba · $588,000
List Price
$588,000
Assumable Rate
2.96%
Remaining Balance
$348,617
Equity Gap
$239,382
Loan Type
VAAdjust Your Scenario
$29,400
$29,400$239,382
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,531/moAssumable @ 2.96% + gap loan
$3,077/moAssumed loan: $1,462/mo
Gap financing: $1,615/mo
$454less per month with the assumable
Your Savings on This Property
9394 Sedalia, Commerce City · 2.96% VA vs 6.5% conventional
$454
per month
$5,447
per year
$163,396
over 30 years
$163,395
interest saved
How gap financing works: The equity gap ($239,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,400, 5% of purchase price) and a second mortgage for the rest ($209,982 at 8.5%). 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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