Loan Comparison: 2.98% vs 6.5%
3360 Appleblossom, Westminster, CO 80030 · 5bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.98%
Remaining Balance
$312,570
Equity Gap
$177,429
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$177,429
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.98% + gap loan
$2,490/moAssumed loan: $1,314/mo
Gap financing: $1,176/mo
$452less per month with the assumable
Your Savings on This Property
3360 Appleblossom, Westminster · 2.98% VA vs 6.5% conventional
$452
per month
$5,423
per year
$162,701
over 30 years
$162,700
interest saved
How gap financing works: The equity gap ($177,429) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($152,929 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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