Loan Comparison: 2.74% vs 6.5%
11545 Dewey, Parker, CO 80138 · 3bd/3ba · $524,500
List Price
$524,500
Assumable Rate
2.74%
Remaining Balance
$410,044
Equity Gap
$113,504
Loan Type
VAAdjust Your Scenario
$26,225
$26,225$113,504
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,149/moAssumable @ 2.74% + gap loan
$2,343/moAssumed loan: $1,672/mo
Gap financing: $671/mo
$807less per month with the assumable
Your Savings on This Property
11545 Dewey, Parker · 2.74% VA vs 6.5% conventional
$807
per month
$9,678
per year
$290,354
over 30 years
$289,402
interest saved
How gap financing works: The equity gap ($113,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,225, 5% of purchase price) and a second mortgage for the rest ($87,279 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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