Loan Comparison: 2.94% vs 6.5%
11350 Kalispell, Commerce City, CO 80022 · 4bd/3ba · $740,000
List Price
$740,000
Assumable Rate
2.94%
Remaining Balance
$445,341
Equity Gap
$292,604
Loan Type
VAAdjust Your Scenario
$37,000
$37,000$292,604
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 2.94% + gap loan
$3,829/moAssumed loan: $1,863/mo
Gap financing: $1,965/mo
$615less per month with the assumable
Your Savings on This Property
11350 Kalispell, Commerce City · 2.94% VA vs 6.5% conventional
$615
per month
$7,378
per year
$221,353
over 30 years
$219,298
interest saved
How gap financing works: The equity gap ($292,604) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,000, 5% of purchase price) and a second mortgage for the rest ($255,604 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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