Loan Comparison: 2.88% vs 6.5%
15554 La Salle, Lakewood, CO 80228 · 4bd/4ba · $975,000
List Price
$975,000
Assumable Rate
2.88%
Remaining Balance
$696,322
Equity Gap
$278,678
Loan Type
VAAdjust Your Scenario
$48,750
$48,750$278,678
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 2.88% + gap loan
$4,659/moAssumed loan: $2,891/mo
Gap financing: $1,768/mo
$1,196less per month with the assumable
Your Savings on This Property
15554 La Salle, Lakewood · 2.88% VA vs 6.5% conventional
$1,196
per month
$14,349
per year
$430,464
over 30 years
$430,464
interest saved
How gap financing works: The equity gap ($278,678) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($229,928 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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