Loan Comparison: 2.87% vs 6.5%
7252 Costilla, Littleton, CO 80120 · 5bd/3ba · $840,000
List Price
$840,000
Assumable Rate
2.87%
Remaining Balance
$495,052
Equity Gap
$344,947
Loan Type
VAAdjust Your Scenario
$42,000
$42,000$344,947
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,044/moAssumable @ 2.87% + gap loan
$4,382/moAssumed loan: $2,053/mo
Gap financing: $2,329/mo
$662less per month with the assumable
Your Savings on This Property
7252 Costilla, Littleton · 2.87% VA vs 6.5% conventional
$662
per month
$7,943
per year
$238,281
over 30 years
$238,280
interest saved
How gap financing works: The equity gap ($344,947) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,000, 5% of purchase price) and a second mortgage for the rest ($302,947 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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