Loan Comparison: 2.77% vs 6.5%
24023 Winter Springs, Parker, CO 80138 · 4bd/3ba · $700,000
List Price
$700,000
Assumable Rate
2.77%
Remaining Balance
$465,331
Equity Gap
$232,512
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$232,512
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.77% + gap loan
$3,423/moAssumed loan: $1,905/mo
Gap financing: $1,519/mo
$780less per month with the assumable
Your Savings on This Property
24023 Winter Springs, Parker · 2.77% VA vs 6.5% conventional
$780
per month
$9,359
per year
$280,782
over 30 years
$278,625
interest saved
How gap financing works: The equity gap ($232,512) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($197,512 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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