Loan Comparison: 2.9% vs 6.5%
7234 Kendall, Littleton, CO 80128 · 4bd/3ba · $850,000
List Price
$850,000
Assumable Rate
2.9%
Remaining Balance
$540,129
Equity Gap
$309,870
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$309,870
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.9% + gap loan
$4,304/moAssumed loan: $2,248/mo
Gap financing: $2,056/mo
$800less per month with the assumable
Your Savings on This Property
7234 Kendall, Littleton · 2.9% VA vs 6.5% conventional
$800
per month
$9,599
per year
$287,974
over 30 years
$287,973
interest saved
How gap financing works: The equity gap ($309,870) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($267,370 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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