Loan Comparison: 2.74% vs 6.5%
11545 Dewey, Parker, CO 80138 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.74%
Remaining Balance
$411,945
Equity Gap
$119,004
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$119,004
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.74% + gap loan
$2,391/moAssumed loan: $1,680/mo
Gap financing: $711/mo
$792less per month with the assumable
Your Savings on This Property
11545 Dewey, Parker · 2.74% VA vs 6.5% conventional
$792
per month
$9,500
per year
$284,990
over 30 years
$285,939
interest saved
How gap financing works: The equity gap ($119,004) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($92,504 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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