Loan Comparison: 2.48% vs 6.5%
2002 Ridge, Littleton, CO 80120 · 5bd/3ba · $849,000
List Price
$849,000
Assumable Rate
2.48%
Remaining Balance
$412,000
Equity Gap
$430,187
Loan Type
VAAdjust Your Scenario
$42,450
$42,450$430,187
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,098/moAssumable @ 2.48% + gap loan
$4,605/moAssumed loan: $1,624/mo
Gap financing: $2,981/mo
$493less per month with the assumable
Your Savings on This Property
2002 Ridge, Littleton · 2.48% VA vs 6.5% conventional
$493
per month
$5,916
per year
$177,468
over 30 years
$170,655
interest saved
How gap financing works: The equity gap ($430,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,450, 5% of purchase price) and a second mortgage for the rest ($387,737 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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