Loan Comparison: 1.999% vs 6.5%
7380 12th, Lakewood, CO 80214 · 5bd/2ba · $600,000
List Price
$600,000
Assumable Rate
1.999%
Remaining Balance
$400,717
Equity Gap
$199,283
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$199,283
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 1.999% (VA)
Blended Rate: 3.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 1.999% + gap loan
$2,783/moAssumed loan: $1,481/mo
Gap financing: $1,302/mo
$820less per month with the assumable
Your Savings on This Property
7380 12th, Lakewood · 1.999% VA vs 6.5% conventional
$820
per month
$9,843
per year
$295,279
over 30 years
$295,279
interest saved
How gap financing works: The equity gap ($199,283) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($169,283 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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