Loan Comparison: 2.2% vs 6.5%
2581 Stage Coach, Milliken, CO 80543 · 3bd/3ba · $340,000
List Price
$340,000
Assumable Rate
2.2%
Remaining Balance
$319,087
Equity Gap
$45,836
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$45,836
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.2% (VA)
Blended Rate: 2.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.2% + gap loan
$1,433/moAssumed loan: $1,212/mo
Gap financing: $222/mo
$608less per month with the assumable
Your Savings on This Property
2581 Stage Coach, Milliken · 2.2% VA vs 6.5% conventional
$608
per month
$7,299
per year
$218,981
over 30 years
$243,904
interest saved
How gap financing works: The equity gap ($45,836) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($28,836 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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