Loan Comparison: 2.98% vs 6.5%
10890 Stuart, Westminster, CO 80031 · 4bd/3ba · $558,000
List Price
$558,000
Assumable Rate
2.98%
Remaining Balance
$306,212
Equity Gap
$250,454
Loan Type
VAAdjust Your Scenario
$27,900
$27,900$250,454
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,351/moAssumable @ 2.98% + gap loan
$2,999/moAssumed loan: $1,288/mo
Gap financing: $1,711/mo
$352less per month with the assumable
Your Savings on This Property
10890 Stuart, Westminster · 2.98% VA vs 6.5% conventional
$352
per month
$4,220
per year
$126,592
over 30 years
$125,258
interest saved
How gap financing works: The equity gap ($250,454) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,900, 5% of purchase price) and a second mortgage for the rest ($222,554 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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