Loan Comparison: 2.87% vs 6.5%
9885 Geneva Creek, Littleton, CO 80125 · 3bd/3ba · $589,950
List Price
$589,950
Assumable Rate
2.87%
Remaining Balance
$334,804
Equity Gap
$255,145
Loan Type
VAAdjust Your Scenario
$29,498
$29,498$255,145
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 2.87% + gap loan
$3,123/moAssumed loan: $1,388/mo
Gap financing: $1,735/mo
$419less per month with the assumable
Your Savings on This Property
9885 Geneva Creek, Littleton · 2.87% VA vs 6.5% conventional
$419
per month
$5,031
per year
$150,922
over 30 years
$150,921
interest saved
How gap financing works: The equity gap ($255,145) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,498, 5% of purchase price) and a second mortgage for the rest ($225,647 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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