Loan Comparison: 5.41% vs 6.5%
6315 Johnson, Littleton, CO 80123 · 5bd/3ba · $599,000
List Price
$599,000
Assumable Rate
5.41%
Remaining Balance
$538,247
Equity Gap
$62,255
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$62,255
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 5.41% + gap loan
$3,274/moAssumed loan: $3,026/mo
Gap financing: $248/mo
$323less per month with the assumable
Your Savings on This Property
6315 Johnson, Littleton · 5.41% VA vs 6.5% conventional
$323
per month
$3,871
per year
$116,137
over 30 years
$117,639
interest saved
How gap financing works: The equity gap ($62,255) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($32,305 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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