Loan Comparison: 3.06% vs 6.5%
9681 Independence, Westminster, CO 80021 · 2bd/2ba · $579,000
List Price
$579,000
Assumable Rate
3.06%
Remaining Balance
$251,958
Equity Gap
$327,041
Loan Type
VAAdjust Your Scenario
$28,950
$28,950$327,041
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 6.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 3.06% + gap loan
$3,362/moAssumed loan: $1,070/mo
Gap financing: $2,292/mo
$114less per month with the assumable
Your Savings on This Property
9681 Independence, Westminster · 3.06% VA vs 6.5% conventional
$114
per month
$1,370
per year
$41,109
over 30 years
$41,108
interest saved
How gap financing works: The equity gap ($327,041) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($298,091 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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