Loan Comparison: 3.08% vs 6.5%
10386 Dartmouth, Lakewood, CO 80227 · 2bd/2ba · $345,000
List Price
$345,000
Assumable Rate
3.08%
Remaining Balance
$261,788
Equity Gap
$83,212
Loan Type
VAAdjust Your Scenario
$17,250
$17,250$83,212
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 3.08% + gap loan
$1,622/moAssumed loan: $1,115/mo
Gap financing: $507/mo
$449less per month with the assumable
Your Savings on This Property
10386 Dartmouth, Lakewood · 3.08% VA vs 6.5% conventional
$449
per month
$5,393
per year
$161,775
over 30 years
$161,775
interest saved
How gap financing works: The equity gap ($83,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($65,962 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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