Loan Comparison: 1.999% vs 6.5%
7380 12th, Lakewood, CO 80214 · 5bd/2ba · $625,000
List Price
$625,000
Assumable Rate
1.999%
Remaining Balance
$401,716
Equity Gap
$223,283
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$223,283
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 1.999% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 1.999% + gap loan
$2,961/moAssumed loan: $1,485/mo
Gap financing: $1,477/mo
$792less per month with the assumable
Your Savings on This Property
7380 12th, Lakewood · 1.999% VA vs 6.5% conventional
$792
per month
$9,501
per year
$285,018
over 30 years
$285,017
interest saved
How gap financing works: The equity gap ($223,283) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($192,033 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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