Loan Comparison: 5.22% vs 6.5%
10 Teller, Lakewood, CO 80226 · 4bd/2ba · $629,000
List Price
$629,000
Assumable Rate
5.22%
Remaining Balance
$595,454
Equity Gap
$33,546
Loan Type
VAAdjust Your Scenario
$31,450
$31,450$33,546
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,777/moAssumable @ 5.22% + gap loan
$3,293/moAssumed loan: $3,277/mo
Gap financing: $16/mo
$484less per month with the assumable
Your Savings on This Property
10 Teller, Lakewood · 5.22% VA vs 6.5% conventional
$484
per month
$5,805
per year
$174,147
over 30 years
$174,147
interest saved
How gap financing works: The equity gap ($33,546) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,450, 5% of purchase price) and a second mortgage for the rest ($2,096 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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