Loan Comparison: 1.999% vs 6.5%
7380 12th, Lakewood, CO 80214 · 5bd/2ba · $580,000
List Price
$580,000
Assumable Rate
1.999%
Remaining Balance
$399,716
Equity Gap
$172,551
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$172,551
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 1.999% (VA)
Blended Rate: 3.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 1.999% + gap loan
$2,581/moAssumed loan: $1,477/mo
Gap financing: $1,104/mo
$902less per month with the assumable
Your Savings on This Property
7380 12th, Lakewood · 1.999% VA vs 6.5% conventional
$902
per month
$10,820
per year
$324,606
over 30 years
$316,873
interest saved
How gap financing works: The equity gap ($172,551) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($143,551 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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