Loan Comparison: 2.77% vs 6.5%
3355 Flower, Lakewood, CO 80227 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
2.77%
Remaining Balance
$209,625
Equity Gap
$60,375
Loan Type
VAAdjust Your Scenario
$13,500
$13,500$60,375
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 2.77% + gap loan
$1,218/moAssumed loan: $858/mo
Gap financing: $360/mo
$403less per month with the assumable
Your Savings on This Property
3355 Flower, Lakewood · 2.77% VA vs 6.5% conventional
$403
per month
$4,834
per year
$145,018
over 30 years
$145,018
interest saved
How gap financing works: The equity gap ($60,375) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($46,875 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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