Loan Comparison: 2.48% vs 6.5%
2002 Ridge, Littleton, CO 80120 · 5bd/3ba · $890,000
List Price
$890,000
Assumable Rate
2.48%
Remaining Balance
$416,096
Equity Gap
$473,904
Loan Type
VAAdjust Your Scenario
$44,500
$44,500$473,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,344/moAssumable @ 2.48% + gap loan
$4,942/moAssumed loan: $1,640/mo
Gap financing: $3,302/mo
$403less per month with the assumable
Your Savings on This Property
2002 Ridge, Littleton · 2.48% VA vs 6.5% conventional
$403
per month
$4,832
per year
$144,947
over 30 years
$144,947
interest saved
How gap financing works: The equity gap ($473,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,500, 5% of purchase price) and a second mortgage for the rest ($429,404 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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