Loan Comparison: 2.83% vs 6.5%
10805 Alamo, Littleton, CO 80127 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
2.83%
Remaining Balance
$226,286
Equity Gap
$273,713
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$273,713
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.83% + gap loan
$2,846/moAssumed loan: $933/mo
Gap financing: $1,912/mo
$157less per month with the assumable
Your Savings on This Property
10805 Alamo, Littleton · 2.83% VA vs 6.5% conventional
$157
per month
$1,878
per year
$56,349
over 30 years
$56,348
interest saved
How gap financing works: The equity gap ($273,713) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($248,713 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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