Loan Comparison: 2.94% vs 6.5%
11350 Kalispell, Commerce City, CO 80022 · 4bd/3ba · $700,000
List Price
$700,000
Assumable Rate
2.94%
Remaining Balance
$444,310
Equity Gap
$252,604
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$252,604
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.94% + gap loan
$3,532/moAssumed loan: $1,859/mo
Gap financing: $1,673/mo
$671less per month with the assumable
Your Savings on This Property
11350 Kalispell, Commerce City · 2.94% VA vs 6.5% conventional
$671
per month
$8,054
per year
$241,626
over 30 years
$238,540
interest saved
How gap financing works: The equity gap ($252,604) 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 ($217,604 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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