Loan Comparison: 2.94% vs 6.5%
1560 112th, Northglenn, CO 80233 · 4bd/2ba · $550,000
List Price
$550,000
Assumable Rate
2.94%
Remaining Balance
$327,502
Equity Gap
$221,745
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$221,745
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.94% + gap loan
$2,864/moAssumed loan: $1,370/mo
Gap financing: $1,494/mo
$439less per month with the assumable
Your Savings on This Property
1560 112th, Northglenn · 2.94% VA vs 6.5% conventional
$439
per month
$5,266
per year
$157,965
over 30 years
$157,212
interest saved
How gap financing works: The equity gap ($221,745) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($194,245 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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